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Trading mixed in HCM City on continued low volume
The VN-Index on Jan. 22 gained a negligible 1.08 points, or 0.36 percent, to close at 301.12, as trading volume continued to remain low on the Ho Chi Minh Stock Exchange.
Around 4.2 million shares changed hands, worth a total of 101.4 billion VND (6 million USD). Gains by a few major shares, such as Phu My Fertilisers (DPM), PetroVietnam Finance (PVF) and FPT contributed to the day’s upward move.
Foreign investors continued to be net sellers, shedding 1.6 million shares and picking up just 362,000. Net sales expanded to nearly 30 billion VND (1.8 million USD) from the previous day’s 21 billion VND (1.2 million USD).
Strong gains on the US stock market positively affected domestic investors’ psychology on Jan. 22, FPT Securities analysts said, as the local exchange lacked any supporting domestic news.
Dragon Capital General Director Dominic Scriven said domestic share prices were now at reasonable levels, only marginally lower than share values on other markets. He figured that the price earnings (P/E) ratio of the Vietnamese stock exchange in 2009 would be 10.2, lower than that of the Republic of Korea, India and Malaysia, but higher than that of Thailand and Indonesia.
In Hanoi on Jan. 22, the HASTC-Index added 0.56 percent to end the day at 100.31 points, while trading volume stayed at around 2.2 million shares with a turnover of 57 billion VND (3.4 million USD).
VNA
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