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Unpredictable stock market puzzles experts
The VN-Index dropped to nearly 800 points in the first four trading sessions of the Year of the Rat after recording consecutive gains prior to the Lunar New Year holiday, drawing different opinions from experts about the development of the market.
After gaining nearly 100 points over six consecutive trading sessions in late January, the VN-Index at the Ho Chi Minh Stock Exchange has fallen by 44 points to finish at 816.03 points on February 15.
According to Trinh Viet Cuong, Director of the Asia Vantage Global investment fund of Japan , the decrease of the VN-Index will help draw capital from the real estate market into the securities market in the coming time.
Many experts said that the price-earnings (P/E) ratio and the Earnings Per Shares (EPS) (the portion of a company’s profit allocated to each outstanding share of common stock) are at reasonable levels.
According to Nguyen Trung Kien, an expert from the Viet Quoc Securities Joint Stock Company, shares are being traded at their real value.
Meanwhile, Head of the Consultancy Department of the Vina Securities Company Hoang Vu Binh said that the trend for the VN-Index was to return to the level in early 2007; however, the traded volume was much lower, making it difficult to forecast the market’s development.
The Me Kong Securities Company said in its latest report that the securities market in 2008 is still attractive to investors with the highest rate of profits in the region.
The company’s director Cheah King Yoong believed that the VN-Index would reach 1,140 points this year.
VNA
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