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26-11-2008 09:50 AM #3
Member- Ngày tham gia
- Jun 2008
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Re: HCMC shares down again as investor confidence dries up
[quote user="dau_dat"]But Nguyen Dinh Phong, brokerage services director of
VNDirect Securities Corp., said: “Given investors’ negative reaction in
today’s trading, it is safe to say the market will go below 300 points
soon.”
“Investors are losing confidence in the market. It is
a very worrying sign. They reacted negatively to good news about the
interest rate cut and the rebound in the US market last week.
“The reason investors are turning their backs on the
market is the lack of transparent information about the country’s
economy. They cannot access reliable data about the unemployment rate,
consumer confidence, banks’ bad debts, decline in exports, companies’
performance and other critical economic indicators.
“In other words, the information we have is
insufficient to paint a picture of Vietnam’s economy. Unless they see
that the value of shares truly reflect the health of the economy, they
will be reluctant to buy.”
Hanoi-based FPT Corporation, a software producer and
mobile phone distributor, rose VND2,000, or 3.96 percent, to close at
VND52,500. The company’s pretax profit in the first 10 months of this
year was US$60.9 million, or a year-on-year 30 percent increase,
according to a statement posted on the stock exchange’s website last
week.
[/quote]
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