Market comments – July 10

The stock market trend remains unclear in the short-term. Most listed companies were too cautious about making this year’s forecast. So investors haven’t been so upbeat about companies exceeding their annual earnings forecasts already by the end of first half of the year. Those firms will have to raise their forecast.

To assess a listed company’s first-half business, investors should compare its earning results with other firms in the same sectors, or with previous year’s figures.

I think the market won’t fall sharply as foreign investors have remained net buyers since early this year, helping stabilize domestic sentiment.

I expect the VN-Index will fluctuate between 425-470 this month. I make a positive prediction that the index will end the year at more than 550.

Pham Thi Le Huong

Chief of VNS Securities Co.’s Research Department

thanhnien, DTCK

>   Bonds fall as yields may need to rise to draw buyers (11/07/2009)

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>   Market falls for fourth straight day (11/07/2009)

>   HSBC says Vietnamese stocks expensive (10/07/2009)

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>   Market comment – July 9 (12/07/2009)

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