Foreign sell-offs sink stock market Phuong Thao By Phuong Thao - The Saigon Times Daily HCMC – Strong sell-offs by foreign investors sent the local stock market into the red on December 15 after just one winning session, with the VN-Index shedding six points, or 1.08%, to close at 547.93. After posting a net buying value of a slight VND2.3 billion last Friday, foreigners net sold VND33.3 billion on the Hochiminh Stock Exchange at the first session of a new week. Notably, they net sold VND31.6 billion of KDC shares, VND12.2 billion of PPC shares and VND10.2 billion of PVD shares. Viet Capital Securities Company (VCSC) noticed some notable events in the global oil sector. For instance, the Organization of Petroleum Exporting Countries (OPEC) signaled over the weekend that it would keep output unchanged even if oil prices drop to US$40 per barrel. The International Energy Agency (IEA) cut its 2015 crude oil growth demand forecast by 230,000 to 900,000 barrels per day, the … [Read more...] about Foreign sell-offs sink stock market
News affecting stock market
VietNamNet Bridge – The stock market has been stirred up with the news that credit institutions’ loans to investors to fund their stock investment must not be higher than 5 percent of the institutions’ chartered capital. The State Bank of Vietnam (SBV) is about to issue a new circular, setting the limits and conditions for commercial banks in providing credit to fund stock investments. Some analysts commented that the central bank will tighten lending to fund stock investments. They cited the current regulation as saying that commercial banks can provide loans to securities investors if the loans are not higher than 20 percent of their chartered capital. Meanwhile, under the new legal document to be released in some days, the proportion is 5 percent only. However, Pham Huyen Anh, a senior official at SBV, denied the fact that credit limits for securities investments will be cut. "You should not confuse the current regulation quoted by analysts with the … [Read more...] about SBV sets new rules to prevent big companies from dominating stock market
Is the stock market poised to sink ? (06-06-2007) by Bui Van Quang, senior consultant at SME Securities Despite the sell-off by some foreign investors last week, the VN-Index escaped relatively unscathed which showed how mature local investors have become by avoiding the herd mentality previously seen in similar situations. The market zigzagged as investors resisted the sell-off pressure. May also was a good month for the market compared to April; the VN-Index did well from April 25 to May 15, though it did not pass the 1,070 level as predicted by many analysts. Moreover, the unprecedented number of people who registered for the recent Bao Viet IPO has raised hopes that the market will pick up steam in June, which might mark the beginning of a bull run through the end of the year. Nevertheless, I do not share the optimism. In the short run, one to three months, I do not think the market will enter an uptrend, especially in June as many people hope. Contrarily, the market may experience … [Read more...] about Is the stock market poised to sink ?
With no foreseeable good news to please investors, Vietnam's benchmark stock exchange is likely to fall further next week, further extending its 41 percent slump this year, director of a securities company said. Share prices on the Ho Chi Minh City exchange continued to slide Friday. Heavy sell-offs saw the market fall on all five trading days in the week, taking the benchmark VN-Index 15 percent lower over the week. "Investors hesitated about whether to hold or sell, longing for any information that could boost the market during the week," Le Thanh Tri, securities trading and investment director of the Empower Securities Corporation, said in an emailed interview. "But the consecutive falls forced them to sell off." Tri said local companies were struggling to borrow money for their business as the central bank's tightening monetary policies prompted local lenders to raise interest rates. "Local firms' health will be slightly affected in this year's first quarter but will be worse in … [Read more...] about Stock market tipped to fall further next week
(CPV)- With the recent recovery of the OTC market, Vietnam's stock market is developing rapidly and has been ranked 24th in the world in securities growth. A reporter from Communist Party of Vietnam Online Newspaper spoke to Mr. Hoang Minh Son, Chairman of Hoang Minh Technology Company and also Director of the OTC floor about growth of Vietnam's securities market in the near future. Reporter: What are your thoughts in the OTC's recent performance? Mr. Son: At present, the OTC market is developing in terms of both quantity and quality. In quantity, an increasing number of joint-stock companies want to issue shares to the public to mobilize capital and other resources. More than 1,400 companies are registered for shares-issuing on the OTC (over the counter) floor and on average, about 3-5 companies demand to issue shares for capital mobilization everyday. In quality, a great number of investors have bought shares with little information but have still sold them at benifit. Now … [Read more...] about Transparency in stock market needed for sustainable growth