Vietnam Stock put on hold

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Analyst at FPT Securities Co., said that while the market has been spurred by the increase in two meetings late last week that profits were on a technical correction after several meetings due to the decline, and that there is no basis for a strong upward trend expected this week.

Analysts at a number of brokerages forecast of the Vietnamese stock market to stay afloat in the first days of August, as investors continued to flee risk averse market. "The prices are increased to market volume of low value," they wrote in a research note. "In the long term, the market needs more information, support and time for investors to gain their faith." No message of support was the confidence of investors in a bull in the back of a prolonged bear market and low capital investment to weaken, "the head of the SME Securities Co., department officials Management Brokerage, Phan Anh Tu While the stock market needed to win VND30-40 trillion (U.S. $ 1.6 to 2.1 billion euros) of new capital, investors pulled several large investment. The market in Ho Chi Minh City has recently recorded 1.3 billion new shares, while the Exchange said it had approved applications from 16 companies to handle a total of 496 million shares list and list of documents 11 companies is preparing a total of 813 million shares list. Meanwhile, downloaded large institutional investors such as Vinalines, Vinashin and Petro Vietnam shares was last week. "As the current market can not provide quick profits, many investors have decided to sit and wait for clearer signals," said Tu In recent weeks, investor confidence undermined sent shares in the stock market in Ho Chi Minh dryer, with the VN-Index lost a net of 1.28 percent over the previous week, administration officials late Friday, administration officials meeting in 493.91. An average of 42 million shares changed hands each day, with an average value of VND1.24 billion ($ 65,300,000) AI decreased more than 6 percent in volume and value of the previous week. Refrigeration and Electrical Engineering (REE) was the most active in the stock market in the south, traded with an average of 1.8 million per day. REE shares lost 5.1 percent of its value during the week, closing Friday at VND18, 600 ($ 0.98). The Stock Exchange of Ha Noi, HNX-Index fell by an even more significant 2.95 percent to 153.33 points Friday, the meeting at the end of AOs. The value of transactions fell by almost 18 percent to a daily average of over VND1 billion (52.6 million U.S. dollars), per volume, with an average of 35.3 million shares meeting. Despite PetroVietnam Construction (PVX) returns as the most heavily traded on a national level, with an average of 3.7 million per day, lost 3.18 percent during the week to close at VND27, 400 ($ 1.44 market.) "Investing in blue chips have fallen this year and mid and small cap stocks attract the interest of investors," said Vincom Securities Co deputy director Phan Anh Tuan. Ha Noi has bag full of these actions is the playground for speculative investors in the securities and trading volume is now almost on par with the largest exchange in Ho Chi Minh against. Bao Viet analysts said the market develop in a stable manner only if it received significant investment in new shares of the sound, rather than the agitation of the penny stocks that the market is seeing now. Foreign investors in the past week as net sellers in the market for Ho Chi Minh City, with a total value of over VND46 billion ($ 2,400,000). They sat in net buyers on the market in Ha Noi, although only slightly, a network of VND5.5 million euros ($ 290,000) worth of shares to collect.

Vietnam Business And Financial News Network. Source [english.vietnamnet.vn]

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