Market comment – July 7

VN-Index to drop on post-rally caution

There has been no negative news in the economy recently to drive down the market. The VN-Index has been on a declining trend because of investors’ sentiment. They are selling on caution after the market rallied to the 500 level too fast last month.

I expect the market will decline this week as more investors are selling than buying and liquidity is low. Companies’ first half reports won’t help the index gain much this week as the results have already been priced into the shares.

Pham Ngoc Thang,
Chief Executive Officer of Hanoi-based Truong Son Securities Inc.

                                                                                           thanhnien, bloomberg

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>   VFR: Results of Annual General Meeting of Shareholders 2009 (07/07/2009)

>   QTC: Results of Annual General Meeting of Shareholders 2009 (07/07/2009)

>   HASTC Notice: First trading day of additional VCS (07/07/2009)

>   TNG: Notice of transaction of Directors, PDMR (Mr. Thoi) (07/07/2009)

>   HNX Notice: Official Admission of additional listing of DC4 (07/07/2009)