Analysts at a number of brokerages predict the Vietnamese stock marketwill continue to tread water in the opening days of August, asrisk-averse investors continued to flee the market.
Whilethe stock market needed to attract 30-40 trillion VND (1.6-2.1 billionUSD) in new capital, several large investors were withdrawinginvestment.
The HCM City market alone has recentlyabsorbed 1.3 billion new shares, while the exchange said it had approvedrequests by 16 companies to list a combined 496 million shares and wasprocessing the listing documents of 11 more companies preparing to list acombined total of 813 million shares. Meanwhile, major institutionalinvestors like Vinalines, Vinashin, and PetroVietnam unloaded shareslast week.
Over the course of last week, weakened investorconfidence caused shares to tumble on the HCM Stock Exchange, with theVN-Index losing a net of 1.28 percent from the previous week's close toend July 30's session at 493.91.
An average of 42 millionshares changed hands per day, worth an average of 1.24 trillion VND(65.3 million USD) – a decrease of over 6 percent in both volume andvalue from the previous week.
Refrigeration &Electrical Engineering (REE) was the most active share on the southernbourse, with an average of 1.8 million traded per day. REE shares lost5.1 percent of their value during the week, closing on July 30 at 18,600VND (0.98 USD).
On the Hanoi Stock Exchange, theHNX-Index fell by an even more substantial 2.95 percent to end July 30'ssession at 153.33 points. The value of trades dropped by nearly 18percent to a daily average of about 1 trillion VND (52.6 million USD),with volumes averaging 35.3 million shares per session.
Though PetroVietnam Construction (PVX) returned as the mostheavily-traded share nationwide with an average of 3.7 million tradedper day, it lost 3.18 percent during the week to close at 27,400 VND(1.44 USD).
Foreign investors concluded last week as netsellers on the HCM City market for a total value of over 46billion VND (2.4 million USD). They continued as net buyers on the HaNoi market, although only marginally, picking up a net of 5.5 billionVND (290,000 USD) worth of shares./.
Whilethe stock market needed to attract 30-40 trillion VND (1.6-2.1 billionUSD) in new capital, several large investors were withdrawinginvestment.
The HCM City market alone has recentlyabsorbed 1.3 billion new shares, while the exchange said it had approvedrequests by 16 companies to list a combined 496 million shares and wasprocessing the listing documents of 11 more companies preparing to list acombined total of 813 million shares. Meanwhile, major institutionalinvestors like Vinalines, Vinashin, and PetroVietnam unloaded shareslast week.
Over the course of last week, weakened investorconfidence caused shares to tumble on the HCM Stock Exchange, with theVN-Index losing a net of 1.28 percent from the previous week's close toend July 30's session at 493.91.
An average of 42 millionshares changed hands per day, worth an average of 1.24 trillion VND(65.3 million USD) – a decrease of over 6 percent in both volume andvalue from the previous week.
Refrigeration &Electrical Engineering (REE) was the most active share on the southernbourse, with an average of 1.8 million traded per day. REE shares lost5.1 percent of their value during the week, closing on July 30 at 18,600VND (0.98 USD).
On the Hanoi Stock Exchange, theHNX-Index fell by an even more substantial 2.95 percent to end July 30'ssession at 153.33 points. The value of trades dropped by nearly 18percent to a daily average of about 1 trillion VND (52.6 million USD),with volumes averaging 35.3 million shares per session.
Though PetroVietnam Construction (PVX) returned as the mostheavily-traded share nationwide with an average of 3.7 million tradedper day, it lost 3.18 percent during the week to close at 27,400 VND(1.44 USD).
Foreign investors concluded last week as netsellers on the HCM City market for a total value of over 46billion VND (2.4 million USD). They continued as net buyers on the HaNoi market, although only marginally, picking up a net of 5.5 billionVND (290,000 USD) worth of shares./.
