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Retail investors riding waves of profit on Vietnam’s stock market
A 10-day rally in Vietnam’s benchmark stock market allowed small investors to catch some waves of profits, earning as much as a 25 percent return on their investments.
After plummeting nearly 60 percent this year, the VN-Index began a slow but steady rise as signs emerged the country’s economy may be turning a corner.
Figures from the General Statistics Office showed the inflation growth slowed, with consumer prices rising 2.1 percent in June from a month earlier, compared with a 3.9 percent month-on-month increase in May.
Luong Tuan, a client of Ho Chi Minh City’s Bao Viet Securities Company, bought 3,000 shares in Binh Thanh Import-Export Production and Trade Joint Stock Company for VND17,500 apiece after the firm’s share price rose to hit the daily trading limit of 3 percent for two days – June 23-24.
Tuan earned around VND9 million (US$535) in just one week after he sold his shares at VND20,300 last Monday.
But Tuan said it was not beginner’s luck as he had suffered many losses in the past from speculating on stocks.
“It takes time to know when and how to catch waves of profit,” he said.
“You have to watch the market moves very closely.”
Nguyen, a client of HCMC-based Dai Viet Securities Company, made a healthy profit by selling 1,000 shares in Hanoi-based property firm Vincom at VND94,500 each.
She had bought the shares at VND84,000 on June 24.
Meanwhile, some fund managers regard Vietnam’s VNIndex in a positive light, in spite of the exchange holding the title of world’s worst performing stock market for most of this year.
“We have been looking at the recent economic data that has been released so far and it looks like things are starting to turn for the Vietnamese market,” Manulife Vietnam Fund Management Investment Director for Equities Mark Canizares told Bloomberg Television last week.
Canizares said his fund is looking at energy, utilities and consumer stocks.
Dr. Le Tham Duong from the HCMC Banking University said now was a good time to pump money into the stock market.
The share market had become the best choice for investors because gold had fallen from its record highs, the dong-dollar rate had stabilized and the property market was still stagnating, he said.
Thai securities analyst Wanchai Thanjasiri said investors should focus on price trends, not macroeconomic numbers or other investors’ actions.
“Use your eyes, not your ears, believe what you see in the [price] charts,” Thanjasiri told the “Vietnam Stock Market – A Crisis Situation: How to Cope with It” forum Sunday.
Thanjasiri, executive vice president of King Eng Securities Thailand and an instructor at the Thailand Institute of the Stock Market, said technical knowledge boiled down to one “top secret” thing: the highest price of a trading day.
“If the [highest] price [today] goes higher than the highest price of Sunday, [the trend] is up. If the trend is down, don’t buy, just sell.”
Thanhnien
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