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VN-Index tracks regional markets
The VN-Index gained ground again yesterday, closing up 1.55 per cent to end the trading session at 305.56.
Volume on the day was 11.44 million shares worth a total of VND283 billion (US$16.8 million).
Investors have begun to comprehend the impact of the global crisis on Viet Nam, allowing them to feel more comfortable in buying on the domestic market, said Vincom Securities analyst Phan Anh Tuan, who noted that the domestic market was now mostly tracking regional markets, most generally up on news of the Fed lowering the US prime rate nearly to zero.
Foreign investors were also net buyers on the day, with a net volume of 177,830 shares, worth about VND20.3 billion ($1.2 million). Buys were concentrated in blue-chips like PetroVietnam Finance (PVF), Phu My Fertilisers (DPM) and Pha Lai Thermal Power (PPC).
"There are still some overseas investors with money to invest and who regard this as a suitable time for new investment in Viet Nam," said Tuan.
In Ha Noi yesterday, the HASTC-Index also rose 0.83 per cent to end the day at 108.22, although trading volume of 5.83 million shares was down significantly from Wednesday's figures. The total value of trades in yesterday's session was VND146.43 billion ($8.71 million).
Volumes of shares bought and sold by overseas investors on the Ha Noi bourse continued in statis, with about 1.05 million shares bought and 1.1 million sold.
Viet Nam News
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