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Shares mixed on shaky outlook
The VN-Index closed at 383.35 points yesterday, a gain of 0.4 per cent, on mixed trading. Market value on the HCM City Stock Exchange slid by 7.6 per cent from Thursday's level to VND405.7 billion (US$19 million) as volume reached just 27.4 million shares.
Of the 10 leading shares by capitalisation, four increased by 0.8-3.5 per cent, including insurer Bao Viet Holdings (BVH), food processor Masan Group (MSN), real estate developer Vincom (VIC) and hotel developer Vinpearlland (VPL).
The highest trading volume of 2.3 million shares belonged to Sacombank (STB).
"Sell pressures were not as high as before, but demand also decreased," said BIDV Securities Co analyst Hoang Anh Tuan. "That was why trading remained low, especially in Ha Noi."
On the Ha Noi Stock Exchange, the HNX-Index closed off by 0.2 per cent to 61.15 points, while losers outnumbered gainers by 157-72. The value of trades edged up only slightly to VND177.3 billion ($8.3 million) on a volume of 19.2 million shares.
PetroVietnam Construction Co (PVX) became the most-active share nationwide, with 2.55 million changing hands, but the stock tumbled 4.5 per cent to just VND8,500 per share.
Late Thursday, the central bank set a credit growth target for next year of 15-17 per cent, with an emphasis on the agricultural sector.
"There will still be tightened credit policy and enterprises will continue to face difficulties in getting loans," commented PetroVietnam Securities Co analyst Dao Hong Duong.
Meanwhile, Prime Minister Nguyen Tan Dung yesterday pledged to help the real estate and securities markets recover and to close the large gaps between global and domestic gold prices.
Viet Nam will also open its door for foreign financial institutions in around 40 days under the roadmap to which it committed when it joined the World Trade Organisation.
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