Shares fall on inflation and caution
The VN-Index fell again on Jan 20 by
another 1.2 percent, closing the day at 489.5 points and largely
undoing Tuesday’s modest rebound.
The VN-Index fell again on Jan 20 by
another 1.2 percent, closing the day at 489.5 points and largely
undoing Tuesday’s modest rebound.
The volume of the day’s trades on the HCM Stock Exchange rose slightly to 34.75 million shares, worth a combined 1.57 trillion VND (83.5million USD).
Bank shares remained the most active, with Eximbank (EIB) responsible for 1.56 million trades and Sacombank (STB) another 1.48 million.
On the Hanoi Stock Exchange, the HXN-Index saw a more significant drop of 2.29 percent to end the day at 161.05 points. Trading volume eased off to 18 million shares, worth a total of 575.36 billion VND (30.6 million USD).
Kim Long Securities Co. (KLS) claimed the position as the most-active share on the northern bourse, with over 2.8 million traded.
HCM City released its January inflation date on Jan 20, showing a year-on-year increase of 9.05 percent, and this, along with fading but still current rumours about a pending increase in the prime interest rate, was continuing to cause investors to adopt a cautious stance towards the market, suggested Ngo Thanh Phat, head of analysis for Vietnam International Securities Co.
“The market is unlikely to undergo a steep correction,” opined FPT Securities Co analysts in Jan. 20 daily market report. They reckoned 480 as a new resistance threshold for the VN-Index.
Foreign investors concluded on Jan. 20 as net buyers on both bourses, responsible for a net buy of over 1.9 million shares, worth 85.6 million VND (4.6 million USD)./.
The volume of the day’s trades on the HCM Stock Exchange rose slightly to 34.75 million shares, worth a combined 1.57 trillion VND (83.5million USD).
Bank shares remained the most active, with Eximbank (EIB) responsible for 1.56 million trades and Sacombank (STB) another 1.48 million.
On the Hanoi Stock Exchange, the HXN-Index saw a more significant drop of 2.29 percent to end the day at 161.05 points. Trading volume eased off to 18 million shares, worth a total of 575.36 billion VND (30.6 million USD).
Kim Long Securities Co. (KLS) claimed the position as the most-active share on the northern bourse, with over 2.8 million traded.
HCM City released its January inflation date on Jan 20, showing a year-on-year increase of 9.05 percent, and this, along with fading but still current rumours about a pending increase in the prime interest rate, was continuing to cause investors to adopt a cautious stance towards the market, suggested Ngo Thanh Phat, head of analysis for Vietnam International Securities Co.
“The market is unlikely to undergo a steep correction,” opined FPT Securities Co analysts in Jan. 20 daily market report. They reckoned 480 as a new resistance threshold for the VN-Index.
Foreign investors concluded on Jan. 20 as net buyers on both bourses, responsible for a net buy of over 1.9 million shares, worth 85.6 million VND (4.6 million USD)./.
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