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VN-Index enjoys two-day mini-rally
The VN-Index posted its second straight day of modest gains yesterday, dosing up nearly a per cent to 246.68 points.
Trading volume also rose by about a million shares from Wednesday's levels to 8.43 million, with a combined value of VND156.66 billion (US$8.9 million). Trading in Sacombank (STB) was particularly active, at a volume of 1.5 million shares, while foreigners became net sellers yesterday on the HCM City Stock Exchange.
Habubank Securities Co cautioned that this week's rally was temporary, as Wall Street continued to fall, hitting 12-year lows. The brokerage warned investors to consider carefully before making any investment at this time, as share prices were now highly susceptible to news of global markets.
Nguyen Van Thuan, a teacher of Banking-Finance Section at the Ha Noi Open University branched in HCM City, said that consumer spending would revive by the end of the first quarter, helping enterprises stabilise.
"In the short term, however, our market will move according to what's happening on markets worldwide," he said.
In Ha Noi yesterday, the HASTC-Index also rose a healthy 2.75 per cent to 84.77 as cheap share prices managed to tempt more investors to buy. Trading volume increased to nearly 5 million shares, worth of VND91.44 billion ($5.2 million).
VietNamNet, Viet Nam News
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