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VN-Index ends month above 280   2009-04-01 - VietNamNet/Viet Nam News

March went out like a lamb, with the VN-Index ending the month’s final trading session down 0.61 per cent, closing at 280.67.

In Ha Noi yesterday, the HASTC-Index managed to gain 1.05 per cent on the day to end March at 98.37. (Photo: VNN)

Trading volume remained high, however, at just over 22 million shares, for a value of VND498.6 billion (US$28.5 million).

Foreigners were net buyers of over 1.3 million shares, focusing interest on Pha Lai Thermal Power (PPC), PetroVietnam Finance (PVF), Phu My Fertilisers (DPM) and Saigon Securities Inc.

An FPT Securities Co survey showed that about 30.1 per cent of questioned investors had expected the VN-Index to end the month above 280 points, while another 37.1 per cent had predicted something in the range of 250 to 280 points.

"It’s quite understandable that investors are shifting to profit-taking after the VN-Index gained about 10 per cent last week, so today’s fall sounds like an adjustment, not a trend," said Viet Nam International Securities Co.

Dao Van Khanh, an analyst from a Ha Noi-based securities company, said that high trading volumes were an important factor to forecast a recovery of the stock market.

"Purchase by foreign investors have also encouraged local traders to trade more actively, affirmed by the decision of some overseas investment funds to increase investment in Viet Nam," Khanh said.

In Ha Noi yesterday, the HASTC-Index managed to gain 1.05 per cent on the day to end March at 98.37. Volume remained high at 10.7 million shares worth VND211.25 billion ($12.1 million). Kim Long Securities (KLS) and Asia Commercial Bank (ACB) remained the most-active shares.



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