kieudiemvje
09-06-2010, 11:57 AM
Increased buys in the final minutes of trading on Tuesday on the HCM City Stock Exchanged helped the VN-Index erase losses posted earlier in the day and close largely unchanged at 497.19 points.
Trading volume, meanwhile, dropped 26 per cent from Monday's session to 38.2 million shares, worth a total of VND1.2 trillion (US$63.1 million).
A few major stocks managed to gain ground, including insurance giant Bao Viet Holdings (BVH), which rose by 2.89 per cent; property developer Kinh Bac (KBC (http://www.vietstock.vn/vstfinance/StockDetail.aspx?scode=KBC&q=KBC)), up 0.93 per cent; and Sacombank (STB (http://www.vietstock.vn/vstfinance/StockDetail.aspx?scode=STB&q=STB)), up 0.49 per cent. STB (http://www.vietstock.vn/vstfinance/StockDetail.aspx?scode=STB&q=STB) also claimed the spot as most-active stock on a volume of 4.9 million shares, fully 13.6 per cent of total trading volume.
On the Ha Noi Stock Exchange, the HNX-Index closed up 1.74 per cent on the day to 157.49 points, but the value of trades fell below the VND1 trillion level to VND893.8 billion ($47 million), with a total of 28.9 million shares traded.
Shares of PetroVietnam Construction (PVX) led trading on a volume of 4.6 million shares, closing up 1.85 per cent.
Any current sell-off wouldn't be strong due to reduced use of leveraged investing in recent months, said Tran Hai Yen of Bao Viet Securities Company.
"We are insistent on a perspective that the impact of global trends is short-term and national stock exchanges will recover," said Yen.
Nguyen Viet Hung, an analyst with a HCM City-based brokerage, said that 500 points would continue to be a strong resistance mark for the VN-Index. Once the Index were to fall below this mark, buying power would increase and concentrate more heavily on blue chips.
"However, investors haven't been able put their faith in the favourable condition of the domestic economy to reinforce their buying decision, resulting in gloomy trading," Hung said, noting the different attitude of foreign investors who continued to be net buyers on both exchanges yesterday, picking up a net of VND53.3 billion ($2.8 million) worth of shares.
Trading volume, meanwhile, dropped 26 per cent from Monday's session to 38.2 million shares, worth a total of VND1.2 trillion (US$63.1 million).
A few major stocks managed to gain ground, including insurance giant Bao Viet Holdings (BVH), which rose by 2.89 per cent; property developer Kinh Bac (KBC (http://www.vietstock.vn/vstfinance/StockDetail.aspx?scode=KBC&q=KBC)), up 0.93 per cent; and Sacombank (STB (http://www.vietstock.vn/vstfinance/StockDetail.aspx?scode=STB&q=STB)), up 0.49 per cent. STB (http://www.vietstock.vn/vstfinance/StockDetail.aspx?scode=STB&q=STB) also claimed the spot as most-active stock on a volume of 4.9 million shares, fully 13.6 per cent of total trading volume.
On the Ha Noi Stock Exchange, the HNX-Index closed up 1.74 per cent on the day to 157.49 points, but the value of trades fell below the VND1 trillion level to VND893.8 billion ($47 million), with a total of 28.9 million shares traded.
Shares of PetroVietnam Construction (PVX) led trading on a volume of 4.6 million shares, closing up 1.85 per cent.
Any current sell-off wouldn't be strong due to reduced use of leveraged investing in recent months, said Tran Hai Yen of Bao Viet Securities Company.
"We are insistent on a perspective that the impact of global trends is short-term and national stock exchanges will recover," said Yen.
Nguyen Viet Hung, an analyst with a HCM City-based brokerage, said that 500 points would continue to be a strong resistance mark for the VN-Index. Once the Index were to fall below this mark, buying power would increase and concentrate more heavily on blue chips.
"However, investors haven't been able put their faith in the favourable condition of the domestic economy to reinforce their buying decision, resulting in gloomy trading," Hung said, noting the different attitude of foreign investors who continued to be net buyers on both exchanges yesterday, picking up a net of VND53.3 billion ($2.8 million) worth of shares.