phuocpham
21-12-2009, 11:15 AM
The VN-Index rose by 1.95 per cent on Friday to end the week at 443.34 points, lifted by strong performances by a number of leading shares.
Trading value on the HCM City Stock Exchange reaching nearly VND2 trillion (US$108.1 million) on a volume of 52.4 million shares.
On the Ha Noi Stock Exchange, the HNX-Index saw a second day of gains, jumping up 3.64 per cent to a Friday close of 143.26. The value of the day’s trades on the northern bourse remained modest, at VND415.7 billion ($22.5 million), with 15.5 million shares changing hands.
Luong Nhan, an analyst with a foreign-invested securities firm, said that investors was less pessimistic than in previous sessions as net-buy volumes had increased significantly.
"They realised that the pressure to sell stocks pledged as collateral had reduced over the last several sessions ago and nothing was going to happen as serious as what happened a year ago," said Nhan. "But investors still seem watchful of their trades as the year is nearly over and supportive factors haven’t materialised."
Trinh Thanh Can, Head of Analysis at Viet Capital Securities Company, told stocknews.vn, an online finance website, that buying had not picked up in the closing weeks of the year due to concerns over foreign exchange and bank liquidity.
Can predicted the market would hit bottom at year’s end or early in 2010, as regulations of credit growth and capital were strictly enforced against commercial banks.
ACB Securities Co analysts said their reliable technical charts suggested ane earlier recovery, but they expected the VN-Index to scrape as low as 410-430 before trading picked up again.
Foreign investors yesterday were net sellers on the HCM City Stock Exchange by a volume of 6.7 million shares. Meanwhile, they remained net buyers on Ha Noi Stock Exchange, picking up a net of 205,300 shares, worth VND9.4 million ($508,108).
Trading value on the HCM City Stock Exchange reaching nearly VND2 trillion (US$108.1 million) on a volume of 52.4 million shares.
On the Ha Noi Stock Exchange, the HNX-Index saw a second day of gains, jumping up 3.64 per cent to a Friday close of 143.26. The value of the day’s trades on the northern bourse remained modest, at VND415.7 billion ($22.5 million), with 15.5 million shares changing hands.
Luong Nhan, an analyst with a foreign-invested securities firm, said that investors was less pessimistic than in previous sessions as net-buy volumes had increased significantly.
"They realised that the pressure to sell stocks pledged as collateral had reduced over the last several sessions ago and nothing was going to happen as serious as what happened a year ago," said Nhan. "But investors still seem watchful of their trades as the year is nearly over and supportive factors haven’t materialised."
Trinh Thanh Can, Head of Analysis at Viet Capital Securities Company, told stocknews.vn, an online finance website, that buying had not picked up in the closing weeks of the year due to concerns over foreign exchange and bank liquidity.
Can predicted the market would hit bottom at year’s end or early in 2010, as regulations of credit growth and capital were strictly enforced against commercial banks.
ACB Securities Co analysts said their reliable technical charts suggested ane earlier recovery, but they expected the VN-Index to scrape as low as 410-430 before trading picked up again.
Foreign investors yesterday were net sellers on the HCM City Stock Exchange by a volume of 6.7 million shares. Meanwhile, they remained net buyers on Ha Noi Stock Exchange, picking up a net of 205,300 shares, worth VND9.4 million ($508,108).