Vietnam News Network

Vietnam News: Local, National, Business, Sport, Entertainment and Technology

Trade LTCUSD, Bitcoin and Cryptocurrencies

BUY & SELL LTCUSD | View LTCUSD News & Updates


Buy Sell LTCUSD, Bitcoin and Cryptocurrencies

Stock market: Liquidity improves on good news   0000-00-00 - VNA

Liquidity improved strongly last week, despite trading boards falling into the red on the Ho Chi Minh City bourse at the end of the week ending on August 29, as investors saw signs of good news ahead.

The VN-Index rose 12.12 points or 2.42 percent over the week to close at 539.1. The gain was mainly thanks to a 34.69 point jump after a strong trading on Monday and Tuesday.

The index lost 22.75 points in the last two days of the week as investors cashed in before the holidays.

Trading volume reached 147 million shares, a 9.3 percent increase over the previous week, while total turnover rose by 18.5 percent to 6.23 trillion VND (377.58 million USD).

Solid gains by some major stocks including Saigon Securities Inc (SSI) and Sacombank (STB) contributed to the increase in revenue, according to Nguyen Truong Son, an analyst with FPT Securities.

Early week trading was spurred by a low August inflation rate, as the General Statistic Office announced inflation was up only 1.56 percent month-on-month. Investors had predicted a three percent rise, after the Government raised petrol prices by 30 percent on July 21.

“The low inflation index proves the Government has the capacity to control prices,” said Son.

Investors were buoyed by news of stable exchange rates and reduced interest rates for loans.

The State Bank of Vietnam (SBV) on August 29 decided to keep the prime interest rate at 14 percent, and to triple the interest rate of commercial bank reserves from 1.2 percent to 3.6 percent, to help credit institutions lower lending interest rates.

“These moves are good signs, which show that the Government is gradually shifting to the goal of accelerating GDP growth, in conjunction with adjusting monetary policies,” said Son.

“The adjustment doesn’t have a great impact on the banking system, but will support investor confidence,” he said.

Earlier last week, the Ministry of Planning and Investment reported a record 47.2 billion USD worth of foreign direct investment (FDI) into the economy in the first eight months of this year, more than four times the amount of last year.

Do Hoai Nam , an analyst with Kim Long Securities, predicted that there would probably be an upward trend in share prices this week if world oil prices remained at current levels.

Foreign investors were net sellers on domestic bourses last week, buying an average of three million shares and fund certificates per day, and selling 4.4 million.

“Despite the market decline in the last two days of the week, demand for shares still remained great,” said FPT analyst Nguyen Truong Son. “With oil prices declining and the domestic economy having stabilised, we expect the VN-Index will not fall below 520 points this week and will bounce back shortly.”

The analyst predicted that the VN-Index would range between 530 and 550 points this week.

At the Hanoi Securities Trading Centre, the HaSTC-Index closed at 192.43 after gaining 28.26 points or 17.2 percent over the week. About 14.7 million securities changed hands, and trading values averaged 397 billion VND (24 million USD) per day.



Other news

Property market inviting for foreign investors   0000-00-00

Slower growth in Vietnam deficit may boost stocks, Dragon says   0000-00-00

Vietnam still cannot slash petrol prices   0000-00-00

Vietnam becomes RoK’s 10 th largest export market   0000-00-00

A brief history of trading band adjustments   0000-00-00

Mekong Delta IPs move to improve   0000-00-00

PM meets local economists on national economy   0000-00-00

Vietnam lowers diesel prices, gasoline stays unchanged   0000-00-00

BUSINESS IN BRIEF 28/9   0000-00-00

Swimming streets no fun at all   0000-00-00

Vietnam brokerages cut jobs, pay as losses mount, trade slumps   0000-00-00

Banks not interested in consumer credit   0000-00-00

Billions VND lost due to exchange rate fluctuations   0000-00-00

Don’t panic because of foreigners’ net sales!   0000-00-00