Indices slip on sluggish trade

Shares closed off slightly for a second day on the HCM Stock Exchange,
with the VN-Index slipping by 0.17 percent on Oct.18 to end the session
at 457.59 points.

Trades continued sluggish, with only 26.4 million shares changing hands, worth just 686.5 billion VND (32.3 million USD).

Vietnam Mechanisation Electrification and Construction (MCG), the
most-active share on the day with 1.6 million traded, was also the day's
top gainer, closing up 4.8 percent as its shareholders commenced a
planned purchase of 3.2 million shares.

Buying by
foreign investors began slowing down, as they just picked only a net of
about 100,000 shares on the HCM City market, worth a net of 11 billion
VND (564,102 USD). They were net buyers on the Hanoi market, but by
a volume of just 354,100 shares, worth only 8.2 billion VND (420,512
USD).

On the Hanoi Stock Exchange, the HNX-Index
also fell for a second day, ending the session down 0.67 percent to
118.89 points.

The value of trades grew by 4.2
percent over Oct. 15 to 371.2 billion VND (19 million USD), on a total
volume of 17.3 million shares. PetroVietnam Construction (PVX) was the
most-active share on the northern bourse, with 1.7 million traded.

Ocean Bank deputy director Nguyen Hong Hai said that stock markets
were coping with shortage of new capital inflows as both major
institutional investors saw not many changes in market situation.

Tightened credit contributed to limit capital inflows, even as the
number of shares listed on the market was expected to continue
increasing through the end of the year, Hai said.

Vietnam International Securities Co analysts predicted that indices
would fluctuate with a narrow band this week, as economic fundamentals
were sound enough to prevent a steep dip in the market./.

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Shares plunge on active trades

The volume of trades on the nation's stock markets picked up on Oct. 4,
but benchmark indices closed down on both exchanges.

On the HCM Stock Exchange, the VN-Index slid 1.3 percent from Oct. 1's
close to end Oct. 4's session at 445.83 points. But volume increased by
nearly 39 percent over Oct. 1's level to 49.45 million shares, with a
value of almost 1.19 trillion VND (61 million USD).

Ocean Group (OGC), which operates in the fields of banking and real
estate development, continued to be the most-active share, with over two
million traded. OGC closed off 4.74 percent to 30,100 VND (1.54 USD).

Of the 10 leading shares by capitalisation, only
three – Bao Viet Holdings (BVH), Hoang Anh Gia Lai (HAG) and Hoa Phat
Group (HPG) – posted gains. Overall, decliners outnumbered advancers by
an overwhelming 219-18.

On the Hanoi Stock Exchange,
the HNX-Index plunged by 3.89 percent to close at 120.92. However,
market volume rose by 92 percent to over 44 million shares, while the
value of trades increased by 68 percent to 931.1 billion VND (47.8
million USD).

Shares declined in value across the
board, with losers outnumbering gainers by 279-19, with all of the 10
leading shares by capitalisation declining in value.

PetroVietnam Construction (PVX) continued to be the most-active share
nationwide, with 5.3 million exchanged, but PVX declined by nearly 4
percent on Oct. 4 to close at 22,000 VND (1.13 USD) per share.

The number of new shares issued in the third quarter was nearly on par
with those issued in the first half of this year, the State Securities
Commission has reported. The value of shares made through public offers
reached more than 34.6 trillion VND (1.77 billion USD).

Foreign investors continued as net buyers on both exchanges on Oct. 4,
picking up over 4.8 million shares, worth a combined 162 billion VND
(8.3 million USD)./.

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Investors remain skittish about economy

Stock indices fell on both of the nation’s stock exchanges on Wednesday despite the State Bank of Vietnam’s announcement this week resolving investor uncertainty about Circular No 13, as well as economic growth announced by the General Statistics Office (GSO) at a healthy 6.52 percent in the first nine months of the year.

On the HCM Stock Exchange, the VN-Index closed down 0.48 percent to 452.94 points, despite rising throughout most of Sept. 29’s session. Over 33 million shares were exchanged, worth VND896.1 billion (US$46 million) – a decline of 15 percent in volume and 10 percent in value.

Decliners outnumbered advancers by 173-42.

Ocean Group continued as the most-active share on the southern bourse on a volume of just around a million shares, closing unchanged at VND32,200 ($1.65).

Of the 10 leading shares by capitalization, insurer Bao Viet Holdings (BVH), Eximbank (EIB) and real estate developer Vincom (VIC) posted gains, while software giant FPT (FPT), Sacombank (STB), and developers Hoang Anh Gia Lai (HAG) and Masan Group (MSN) declined.

On the Hanoi Stock Exchange, the HNX-Index fell by an even more substantial 2.12 percent to close the day at just 127.41 points. Market value declined by 14 percent to VND842.7 billion ($43.2 million) on a volume of 33.54 million shares, while losers outnumbered gainers by an overwhelming 264-38.

PetroVietnam Construction (PVX) resumed its role as the most-active share nationwide with 2.57 million shares traded, but the shares closed down 2.9 percent to VND23,300 ($1.95).

VNDirect Securities Co analyst Pham Vu Dong on Wednesday told financial information website cafef.vn that, excluding growth, all other economic indicators were unfavorable. He noted high inflation in September and a trade deficit that could reach $13.5 billion by year’s end, along with sluggish credit growth.

“The domestic economy is unlikely to undergo a sudden turnaround in the remaining months of the year,” Dong said.

Gold prices continued to lure investors away from stocks, as well, with domestic gold prices hitting another record high on the same day at over VND31 million ($1,590) per tael. A tael is equal to 1.2 troy ounces.

ACB Securities Co analysts also noted that Circular No 19, which supplements Circular No 13, retained the risk coefficient ratio for securities at 250 percent, a level unlikely to encourage banks to loan further funds for securities investment.

Foreign investors continued as net buyers on both exchanges on the same day, picking up VND38.5 billion ($2 million) worth of shares.

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State bank decision stabilises markets

Shares advanced on the nation's stock exchanges on Sept. 28 as the
central bank's final decision on Circular No 13 helped settle investor
psychology.

The State Bank of Vietnam's decision, issued late Monday, allows banks
to lend 25 percent of their non-term deposits and count State Treasury
and loans from other credit institutions of terms of three months or
longer as part of their reserves for lending.

The
decision is expected to help ease the capital crunch that banks feared
due to Circular No 13's stricter capital adequacy requirements, which
will take effect on Friday as previously announced.

The central bank on Sept. 28 also decided to keep the prime interest rate at 8 percent for an 11th consecutive month.

On the HCM Stock Exchange, the VN-Index closed up 1.1 percent to
455.13 points. Market value rose by 10 percent over Monday's session to
slightly over 1 trillion VND (53.8 million USD) on a volume of almost 39
million shares.

Advancers outnumbered decliners by
150-57, with Sacombank (STB) the most-active share with over 3 million
changing hands. STB rose for a second day and closed up 1.2 percent to
17,000 VND (0.87 USD) per share.

Of the 10 leading
shares by capitalisation, nine posted gains, with insurer Bao Viet
Holdings (BVH) and property developer Vincom (VIC) rising to their
ceiling price.

Ha Thanh Securities Co's head of
analysis and investment, Tran Van Don, said the impacts of Circular No
13 had dissipated and the market was unlikely to react dramatically.

Many investors remained watchful, Don said, noting the modest increase in trading volume and value on Sept. 28.

He predicted that rising inflation would cause banks difficulties in
lowering interest rates, putting further pressure on the markets.

Duong Hong Ha, chief analyst of Tri Viet Securities Co, agreed the
domestic stock market was unlikely to see any explosive development in
light of rising inflation, high interest rates and a large volume of new
shares to list by year's end.

On the Hanoi Stock
Exchange, the HNX-Index advanced on Sept. 28 by a modest 0.18 percent to
close at 130.17 points. Volume hit 34.6 million shares worth 981.6
billion VND (50.3 million USD) – an increase by 39.5 percent in volume
and nearly 60 percent in value – while gainers outnumbered losers by
203-72. /.

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Volumes up on uncertain start

Following Sept. 17 strong rally on the HCM City Stock Exchange, the
VN-Index opened high at over 462 points but ended session essentially
unchanged at 457.87 on Sept. 20.

The volume of
trades, however, rose by 10 percent over the previous session level to
over 53.8 million shares, with a combined value of 1.46 trillion VND
(74.9 million USD).

Advancers outnumbered decliners
during the session by 116-93, with five of the ten leading shares by
capitalisation posting gains, including Eximbank (EIB), Sacombank (STB),
Vincom (VIC), Bao Viet Holdings (BVH) and Phu My Fertilisers (DPM).

Ocean Group (OGC), the most-active share on the southern bourse with
3.4 million traded, lost nearly 2.2 percent of its value.

On the Hanoi Stock Exchange, the HNX-Index closed up by 0.35 percent
to 133.31 points. Volume reached 52.5 million shares, worth 1.28
trillion VND (65.6 million USD), while advancers narrowly outnumbered
decliners by 137-123.

PetroVietnam Construction
(PVX) continued to be the most heavily-traded share nationwide, with a
volume of over 7.6 million shares. However, Kim Long Securities Co (KLS)
saw a notable increase in volume, with over 7.2 million shares traded.

Foreign investors continued to demonstrate faith in
the market, however. They picked up a net of nearly 4 million shares on
both exchanges, worth a net of 131 billion VND (6.7 million USD). Ocean
Group (OGC) was their most heavily-favoured share, with over 1.5 million
bought./.

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Securities markets stop losing streak

Shares regained a little lost ground on both national stock exchanges on
August 26 after three days of steep declines, helped by an overnight
recovery on Wall Street.

The gains were achieved despite the State Bank of Vietnam 's
announcement late Wednesday that it would keep the prime interest rate
at 8 percent for the month of September, extinguishing market hopes that
the prime rate might decline by up to a percentage point.

On the HCM Stock Exchange, the VN-Index closed up 0.75 percent to
427.07 points. The value of trades declined 22 percent to 954.6 billion
VND (49.5 million USD) on a volume of 39.36 million shares.

Heavy investor interest lifted the VN-Index to nearly 430 points in the early session before it slid back to 427 points.

"The advance drove many investors to sell out instead of buying," said
independent analyst To Tran Hoa. "Pressure to sell shares pledged as
collateral remains huge."

Among the 10 leading shares by
capitalisation, seven posted gains while only food giant Masan Group
(MSN) slumped, closing down 2.12 percent. Advancers outnumbered
decliners overall, but by a fairly narrow margin of 112-102, with 44
shares unchanged.

Refrigeration & Electrical
Engineering (REE) was the most-active share on the HCM City
bourse, with 1.28 million changing hands. REE finished the day at 16,000
VND (0.83 USD), a gain of 3.23 percent.

On the Hanoi
Stock Exchange, the HNX-Index rose by 0.61 percent to nearly 120 points.
Market value fell by 10 percent to 683 billion VND (35.4 million USD),
with 31.4 million shares traded.

Losers outnumbered
gainers on the northern bourse by 137-132, while blue chips recovered
slightly across the board, including Asia Commercial Bank (ACB), up 0.36
percent; construction giant Vinaconex (VCG), up over 2 percent; Kim
Long Securities (KLS), up 1.55 percent; and PetroVietnam Construction
(PVX), up 1.47 percent.

PVX continued as the most-active share nationwide on a volume of 4.5 million.

Hoa said cautious investor psychology still weighed on the market, with traders distrusting any signs of a rebound.

"Sell orders have not slowed down," said Hoa. "Many investors want to wait a couple more sessions for clearer signs."

Foreign investors surprised market watchers as they turned from net
buyers to net sellers on both exchanges on the trading session,
offloading a net of over 500,000 shares, worth in excess of 20 billion
VND (1 million USD)./.

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Shares plunge to 16-month lows

The stock market tracked plunges on world markets on Aug. 25 as shares
on both national exchanges accelerated their prolonged decline.

On the HCM Stock Exchange, the VN-Index declined by 2.42 percent from
August 24's session to close at 423.89 points – its lowest level since
May 2009. The Index has shed a cumulative 30 points, or 7 percent of its
value, since the market opened this week.

However,
as the Index headed for the landmark of 400 points, bottom-catching
investors accelerated buys, lifting market volume on the southern bourse
on Aug. 25 to 50.5 million shares worth a combined 1.23 trillion VND
(63.7 million USD), an increase of 8 percent in volume and 7 percent in
value. Decliners outnumbered advancers by 222-20.

Pressure to sell shares pledged as collateral from banks and securities
companies depressed many blue chips. Saigon Securities Inc (SSI), Bao
Viet Holdings (BVH), Song Da Urban and Industrial Zone Investment (SJS),
Hoa Sen Group (HSG) and Tu Liem Urban Development (NTL) were traded at
their floor prices.

A few shares went against the
market trend to gain in value, largely due to buys by foreign investors,
including Phu My Fertilisers (DPM) and PetroVietnam Drilling (PVD).

Foreign investors on the HCM Stock Exchange on Aug. 25
tripled their net buys overall to 3.45 million shares, worth 79 billion
VND (4.1 million USD).

PetroVietnam Finance (PVF),
meanwhile, surprised the market, managing to rise to its ceiling price
by the end of the session after being traded at its floor price
throughout much of the morning.

On the Hanoi Stock Exchange, the HNX-Index also plummeted by 4.49 percent to a 16-month low of 118.81 points.

Market value declined slightly to 753.6 billion VND (39 million USD)
on a volume of 36 million shares. Of 286 decliners, 199 closed at their
floor prices.

PetroVietnam Construction (PVX)
continued as the most-active share nationwide on a volume of 6.8
million, but slid by 5.56 percent to a close of 20,300 VND (1.05 USD)
per share.

Foreign sectors continued as net sellers
on the Hanoi bourse, responsible for 4.6 billion VND (238,400 USD)
worth of shares./.

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Stocks slump to one-year low

Shares continued their downward spiral again on the two national stock
exchanges on August 23, reversing the unexpected rebound on previous
trading day despite news that the State Bank of Vietnam may back off
from imposing stricter capital adequacy requirements on the nation's
commercial banks.

On the HCM Stock Exchange, the VN-Index opened the week down 1.52
percent to 447.92, its lowest point since the beginning of the year.

Trading volume and value also hit rock-bottom for the year. Only 22.8
million shares changed hands, worth a combined 611 billion VND (31.7
million USD). Both figures represented declines of 33 percent from
August 20’s levels.

Meanwhile, only 34 shares advanced on the day, against 183 decliners, 28 of which dropped to their floor prices.

Heavy sales of Tan Tao Investment & Industry (ITA) lifted ITA to
the spot as most-active share on the day, but with only a million
traded. ITA closed down 4.55 percent to 18,900 VND (0.98 USD) per share.

On the Hanoi Stock Exchange, the HNX-Index also
fell by 1.77 percent to close at 129.09 points. The volume of trades
reached 19.3 million shares worth only 470 billion VND (24.3 million
USD), declines of 30 percent from August 20 in both volume and value.

Losers outnumbered gainers by 236-54, with
PetroVietnam Construction (PVX) the most-active share on a volume of 2.2
million.

A few shares managed to rise to their
ceiling prices, including An Phat Plastic and Green Environment Co
(AAA), following an announcement that Japan's Maruzen Kanri Kaihatsu Co
Ltd intended to buy a 25 percent stake in the company, and Long An
School Book and Equipment (LBE) as investors expected positive earnings
in the third quarter from the publishing and educational supplies
companies.

Nevertheless, foreign investors concluded
August 23 as net sellers on the HCM City market, offloading 37 billion
VND (1.9 million USD) worth of shares. They remained net buyers in
Hanoi, picking up 57,800 shares worth 940 million VND (48,700 USD)./.

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