Market flat, trade tumbles, red flowed across the electronic boardduring the December 11 session on both of the nation's stock exchangesas investors turned less active.
On the Ho Chi MinhCity bourse, the VN-Index lost 1.23 percent to just 505.31 points,while the VN30, composed of the 30 largest stocks in terms ofcapitalisation and liquidity, retreated 1.13 percent to 565.69 points.
Only steelmaker Hoa Sen (HSG), Vinamilk (VNM) andPetroVietnam Low Pressure Gas Distribution (PGD) rallied. Two otherstocks managed to finish the session unchanged, while the remainder ofthe 30 blue chips tumbled.
Pha Lai Thermalpower(PPC) saw the fastest decrease of 4.7 per cent, while insurer Bao Viet(BVH), private equity group Masan (MSN), PetroVietnam Drilling Services(PVD), Refrigeration Electric Engineering (REE) and food processorBourbon Tay Ninh (SBT) declined between 2.3-3 percent.
Trading value was driven up by some 40 percent to 1.4 trillion VND (66million USD), as over 103.5 million shares changed hands.
On the Hanoi bourse, all indexes lost ground, with the greatestdecline belonging to the HNX30 (down 1.5 percent), which tracks thenorthern bourse's top 30 shares, and an index tracking shares of themanufacturing sector (down 1.3 percent). The HNX Index also lost 0.86percent to 65.57 points.
The value and volume oftrades on the bourse touched 404.8 billion VND (19 million USD) and 51.6million units, respectively.
FPT Securities Coanalysts stated that the declines again showed instability in theshort-term trend and that although future transactions are expected tobe active, the market will see several corrections.
Foreign investors concluded, as net buyers in both cities on December11, choosing a margin of 49.8 billion VND (2.3 million USD).
Viet Dragon Securities Company (VDSC) was quoted by the Saigon TimesDaily as saying that the market would continue moving sideways untilnearly the end of the month. The VN-Index may move in the range of 500and 530 points while the HNX-Index may oscillate from 63 to 68 points.
Investors should pick up stocks with possible goodbusiness results, especially those of construction and real estate firmswhich usually report gains at year-end or those in food and consumergoods sectors with active seasonal business activities. In addition,leading enterprises with good business results may attract huge foreigncapital flows, VDSC said in the December investment strategy report.
“However, the economy and the market may not perform as well asexpected. If the Government still needs more time to consider the draftof a regulation on foreign ownership limit, foreign capital inflows maynot be as high as expected. Therefore, the VN-Index may not touch the530-point level as we have forecast,” the brokerage added.-VNA
On the Ho Chi MinhCity bourse, the VN-Index lost 1.23 percent to just 505.31 points,while the VN30, composed of the 30 largest stocks in terms ofcapitalisation and liquidity, retreated 1.13 percent to 565.69 points.
Only steelmaker Hoa Sen (HSG), Vinamilk (VNM) andPetroVietnam Low Pressure Gas Distribution (PGD) rallied. Two otherstocks managed to finish the session unchanged, while the remainder ofthe 30 blue chips tumbled.
Pha Lai Thermalpower(PPC) saw the fastest decrease of 4.7 per cent, while insurer Bao Viet(BVH), private equity group Masan (MSN), PetroVietnam Drilling Services(PVD), Refrigeration Electric Engineering (REE) and food processorBourbon Tay Ninh (SBT) declined between 2.3-3 percent.
Trading value was driven up by some 40 percent to 1.4 trillion VND (66million USD), as over 103.5 million shares changed hands.
On the Hanoi bourse, all indexes lost ground, with the greatestdecline belonging to the HNX30 (down 1.5 percent), which tracks thenorthern bourse's top 30 shares, and an index tracking shares of themanufacturing sector (down 1.3 percent). The HNX Index also lost 0.86percent to 65.57 points.
The value and volume oftrades on the bourse touched 404.8 billion VND (19 million USD) and 51.6million units, respectively.
FPT Securities Coanalysts stated that the declines again showed instability in theshort-term trend and that although future transactions are expected tobe active, the market will see several corrections.
Foreign investors concluded, as net buyers in both cities on December11, choosing a margin of 49.8 billion VND (2.3 million USD).
Viet Dragon Securities Company (VDSC) was quoted by the Saigon TimesDaily as saying that the market would continue moving sideways untilnearly the end of the month. The VN-Index may move in the range of 500and 530 points while the HNX-Index may oscillate from 63 to 68 points.
Investors should pick up stocks with possible goodbusiness results, especially those of construction and real estate firmswhich usually report gains at year-end or those in food and consumergoods sectors with active seasonal business activities. In addition,leading enterprises with good business results may attract huge foreigncapital flows, VDSC said in the December investment strategy report.
“However, the economy and the market may not perform as well asexpected. If the Government still needs more time to consider the draftof a regulation on foreign ownership limit, foreign capital inflows maynot be as high as expected. Therefore, the VN-Index may not touch the530-point level as we have forecast,” the brokerage added.-VNA
