Dismal prospects for equity market in short term, experts forecast By Thuy Trieu - The Saigon Times Daily HCMC - The local market stock market will continue drifting down at least until the end of the first half as listed firms' business results in the first quarter will be dampened partly due to the global economic crisis, experts said. "The possibility that Vietnam's stock market will recover after June this year is high," he said, adding that the VN-Index would bottom out at around 250 points. Meanwhile, Nguyen Mien Tuan, CEO of Viet Dragon Securities Joint Stock Company, said that the local stock market was ebbing due to bad results in 2008 among listed firms, whose performance may not be better in this first quarter given bad microeconomic indicators. "Therefore, the market will bottom out in April or May before bouncing back," he said. According to the brokerage firm's statistics in its latest report, Vietnam's stock market in 2008 was the worst performer in the world as it lost … [Read more...] about Dismal prospects for equity market in short term, experts forecast
Equity market
Money strongly flows into equity market
Money strongly flows into equity market By Thuy Trieu - The Saigon Times Daily HCMC - Last week's stock market captured strong interest in not only the quick recovery of the index, but also the phenomenal liquidity as investors rushed to snap up shares where stock prices were rising or falling. The average daily trading value also rose 110% to nearly VND1.17 trillion. The market saw new trading record on May 6 when investors traded 78.6 million shares worth VND2.3 trillion although the index fell slightly. Closing the week, there were 158 out of 181 stocks increasing and only 16 others falling. Investors were ready to buy into blue-chips despite selling pressure by profit takers, making prices of those stocks increase considerably. Another good sign was that foreign investors were heavy net buyers last week as they acquired a total 20.9 million shares worth VND799 billion and sold 5.6 million shares worth VND225.3 billion. Fiachra Mac Cana, managing director of HCMC Securities Corp. … [Read more...] about Money strongly flows into equity market
Oil tops US$77 as equities markets jump
Oil prices increased by nearly 3 percent on July 13 to a two-week high of above US$77 per barrel as better-than-expected corporate earnings boosted confidence about the economy and lifted markets. The principal US stock indexes rose more than 1.5 percent after strong results from aluminum maker Alcoa Inc gave a promising start to the earnings season. US crude for August delivery settled at US$77.15 per barrel up US$2.20, or 2.94 percent after falling earlier to US$74.25. In London, Brent crude oil for August delivery rose by US$2.28 to US$76.65 a barrel. The August contract price moved briefly above September as traders bet maintenance in the North Sea would boost Brent in the short term. Prices were also supported by rising European equity markets, EU and a decline in the dollar .DXY. A weakening dollar is bullish for oil because it makes crude cheaper for buyers holding other currencies. Oil markets were also watching the latest monthly report from the International … [Read more...] about Oil tops US$77 as equities markets jump
Equity market waiting for clear signals
by Thuy Anh Fund management firm VinaCapital is setting up a new fund to invest in the real estate sector. It already has a real estate fund called VinaLand but the new fund will be different - it will mainly target institutional investors, not list on stock markets, and not invest in listed securities. "Viet Nam's economy will grow in a stable manner this year and we hope for new co-operation ties in different areas," Don Lam, VinaCapital's general director, says, adding Viet Nam is still attracting foreign investors' interest. Other fund management companies are also preparing to set up new funds. IDG Ventures Viet Nam expects to manage a new fund of up to US$200 million this year to tap the opportunities in the education and medical services sectors apart from its traditional areas of interest - information technology and telecom. Sai Gon Asset Management hopes to raise $100 million from institutions and industry leaders in the US or Luxembourg for its "Smart Money". The fund will … [Read more...] about Equity market waiting for clear signals
Equity market: who dares wins
To date, most regional indices have strongly recovered and returned to the heights of 2007-2008 before the global financial crisis struck. In 2010, as forecasted by reputed global research houses, the Asia-Pacific region and other emerging markets have recorded impressive growths. Except for Japan which has faced deflation risks for years, only Vietnam and China have been left behind. Compared to Korea, Singapore, Indonesia, Taiwan and Hong Kong, the VN-Index has suffered a 30-40 per cent pull-back. Depending upon the methodology and sources of information, the price-to-earnings (P/E) ratio of Vietnam's equity market is estimated at the range of 10x-15x, which is not much lower than the others. However, there are a number of unique characteristics that have distorted the calculations. Some 5 per cent of the biggest companies by market capitalisation such as VCB, BVH, CTG, HAG and VI normally carry high P/E valuations compared to averages. Together, they account for … [Read more...] about Equity market: who dares wins