After two-day rebound, stocks return to downward ways (21-12-2007) Investors hold their breath watching the downtrend of stocks at the offices of Saigon Securities Inc. — VNS Photo Truong Vi HA NOI — After a dramatic two-day surge the stock market disappointed many investors yesterday by dropping 16.33 points to close at 930.45, a decrease of 1.72 per cent on the previous day. Vu Duc Nghia, vice director of Bien Viet Securities, said there was a lack of optimism in the market. "There has been no other market news than the information about Vietcombank's IPO, while negative factors persist," Nghia said. The deadline for the bank's IPO is fast approaching. However, inflation is still a problem, he added. Of the 134 codes, 101 were in the red, including almost all the blue chips. Only 16 codes advanced, while 19 codes remained unchanged. Only 7.1 million shares changed hands, worth VND742 billion (US$46 million), 10 per cent down on the earlier session. The biggest … [Read more...] about After two-day rebound, stocks return to downward ways
Day trading stocks
Lukewarm Day for Stock Markets
Local investors observe the VN-Index at the Ho Chi Minh City Securities Trading Center. (Photo:TK) The Ho Chi Minh City and Ha Noi stock markets were up slightly this morning after a strong performance by some of the blue-chip stocks offset an otherwise desultory trading day. At the Ho Chi Minh City Securities Trading Center, the VN-Index rose 5.63 points, or 0.54%, to close at 1,045.29, in the face of a disappointing trading volume of 6.37 million shares and value of VND756.9 billion. Two dozen stocks fell, including eight limit down, and 62 went up, albeit not by much. The biggest by market cap, STB, was once again the most actively traded stock with 1.8 million shares changing hands for more than VND264 billion. Some blue-chip stocks fared well, like BMC up by a strong VND23,000, TCT by VND16,000, SJS by VND10,000, NAV by VND10,000 and FPT by VND7,000. Other big names were not so impressive. PVD dived VND15,000 to end the day at VND325,000, KDC dropped VND10,000, and ALT … [Read more...] about Lukewarm Day for Stock Markets
Vietnam to regulate informally traded stocks, bolstering market
The Hanoi Times - Vietnam will open a new exchange for informally traded stocks in an attempt to increase investor confidence and support the turnaround in its equity market. The new over-the-counter (OTC) market, to open on June 24, will help to "enhance transparency" and "protect the interests of investors," Nguyen Thi Hoang Lan, vice general director of the Hanoi Securities Trading Center, where the trading will take place, said in a telephone interview Monday. Vietnam has been increasing regulations to try to lure investors back to its nine year-old market after the benchmark VN-Index plunged 66 percent last year. There are signs the moves may be paying off, with the measure the world's second-best performing this quarter, after Ukraine. "In the past, the OTC market operated without any management and contained a lot of risks," Lan said. "There were many cases when investors were cheated and we weren't able to ensure their interests". Vietnam had at least 959 companies that … [Read more...] about Vietnam to regulate informally traded stocks, bolstering market
Late day trading Tuesday props up Vietnamese bourse
The Vietnamese stock market was bullish Tuesday as investors re-emerged looking to buy shares in late day trading. Orders en masse just before the bell totaled VND34 billion (US$2.2 million). Investors bought up 150,000 Gemadept (GMD) and 100,000 share each of Refrigeration Electrical Engineering Corp. (REE), Ho Chi Minh City Infrastructure Investment Joint-Stock Co. (CII), Vinamilk (VNM) and 620-Chau Thoi Concrete (BT6). … [Read more...] about Late day trading Tuesday props up Vietnamese bourse
Same day trading not a good idea: expert
Encouraging increased speculation is inviting destabilization, says an officer of the HCMC Open University. The State Securities Commission (SSC), the country's stock market regulator, is consulting investors and brokerages on allowing trading of stocks through accounts at different brokerages, and buying and selling one stock in one trading session instead of having to wait until the next day. Thanh Nien caught up with Dr. Nguyen Van Thuan, dean of the Ho Chi Minh City Open University's accounting, finance and banking faculty, to discuss this move. Nguyen Van Thuan: Opening trading accounts at more than one brokerage is something that should be allowed. It will offer investors a chance to get to know which brokerage is the best for them. Besides, it'll also help investors regain some money from the capital gains tax they'll have to pay next year. At present, the SSC doesn't allow investors to do that so they circumvent the ban, having their friends or relatives open accounts … [Read more...] about Same day trading not a good idea: expert