Comments by the head of the US Federal Reserve encouraged localinvestors to continue profit-taking on July 22, resulting in theVN-Index slipping 1.01 percent to close at 500.28 points.
On July21, FED boss Ben Bernanke described the US economic outlook asunusually uncertain,” but gave no indication as to what the central bankwould do to improve the situation.
Sell-offs dragged down 183 ofthe 251 listed stocks on the HCM Stock Exchange. The sole advancerswere penny stocks, including HCM City Metal Corp (HCM), Foreign TradeInvestment and Development Corp of HCM City (FDC) and Ha Tien TransportCo (HTV).
Meanwhile, VNE was the most heavily-traded stock, with 2.3 million changing hands.
NguyenTrong Kien, a broker at a Danang branch of securities company, saidBernanke’s negative comments and figures by the General Department ofVietnam Customs that showed a high trade deficit had dampened investorsentiment.
“These reports weakened confidence in the market andencouraged investors to sell,” Kien said. “However, trading volumeremained brisk, showing that some traders were buying.”
The value of the day’s trade was 1.5 trillion VND (78.9 million USD) on a volume of 49.9 million shares.
In Hanoi , the HNX-Index slid 0.81 percent to end at 157.68 points, with just 81 out of 315 listed shares advancing.
Thevalue of the day’s trade, however, closed at 1.1 trillion VND (57.9million USD) on a total volume of 37.9 million shares. PetroVietnamConstruction (PVX) was the most active stock, with 2.55 million changinghands.
Foreign investors remained net buyers in HCM City ,picking up 600,000 shares worth 54.1 billion VND (2.8 million USD).However, they were net sellers in Hanoi , off-loading 50,000 sharesworth 1.5 billion VND./.
On July21, FED boss Ben Bernanke described the US economic outlook asunusually uncertain,” but gave no indication as to what the central bankwould do to improve the situation.
Sell-offs dragged down 183 ofthe 251 listed stocks on the HCM Stock Exchange. The sole advancerswere penny stocks, including HCM City Metal Corp (HCM), Foreign TradeInvestment and Development Corp of HCM City (FDC) and Ha Tien TransportCo (HTV).
Meanwhile, VNE was the most heavily-traded stock, with 2.3 million changing hands.
NguyenTrong Kien, a broker at a Danang branch of securities company, saidBernanke’s negative comments and figures by the General Department ofVietnam Customs that showed a high trade deficit had dampened investorsentiment.
“These reports weakened confidence in the market andencouraged investors to sell,” Kien said. “However, trading volumeremained brisk, showing that some traders were buying.”
The value of the day’s trade was 1.5 trillion VND (78.9 million USD) on a volume of 49.9 million shares.
In Hanoi , the HNX-Index slid 0.81 percent to end at 157.68 points, with just 81 out of 315 listed shares advancing.
Thevalue of the day’s trade, however, closed at 1.1 trillion VND (57.9million USD) on a total volume of 37.9 million shares. PetroVietnamConstruction (PVX) was the most active stock, with 2.55 million changinghands.
Foreign investors remained net buyers in HCM City ,picking up 600,000 shares worth 54.1 billion VND (2.8 million USD).However, they were net sellers in Hanoi , off-loading 50,000 sharesworth 1.5 billion VND./.
