No end in sight for stock market slide (08-05-2008) Investors bite their nails while watching VN-Index lose 3.09 points yesterday to close at 515.26. — VNS Photo Viet Thanh HA NOI — The stock market continued in the doldrums yesterday, with the VN-Index losing 3.09 points, or 0.60 per cent, to close at 515.26. Volume was barely 6 million shares, with the day’s trades totalling about VND317.8 billion (US$19.9 million), figures that approximated Tuesday’s levels. Strong buys from overseas investors continued to keep the market afloat, said brokers from the Da Nang Securities Co. "They are pouring money in because they have clear plans for long-term investment," commented broker Tran Quang Dung ."Meanwhile, local investors continue selling due to panic over the lack of a recovery." Domestic investors continued to play the market with a day-trader mentality, he said. Blue chip shares like Sacombank (STB) and FPT continued hitting their floor prices in … [Read more...] about No end in sight for stock market slide
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VietNamNet Bridge – High tax is believed to be the main reason that makes securities investment funds unable to develop in Vietnam. Though the draft circular stipulating the tax policies for securities investments offers a lot of tax incentives, it still has not satisfied securities investors. Securities’ associations believe that more preferences should be offered in order to recover the stock market. Secretary General of the Vietnam Association of Financial Investors (VAFI) Nguyen Hoang Hai said that in other countries in the world, stock market is considered the leading business field of the national economies, while fund management is the key channel that provides capital to the economies. Therefore, the countries offer attractive tax incentives to create most favorable conditions for securities funds, fund management companies to develop. Also according to Hai, in the economies, the transactions carried out by securities investment funds always account for … [Read more...] about More tax incentives will help revive stock market?
Short-term stock market rally likely Kim Ngan By Kim Ngan - The Saigon Times Daily HCMC – Securities companies said the local stock market may make gains in the next few sessions thanks to positive world stock market developments and good prospects of domestic bank stocks. Bao Viet Securities Company said the VN-Index may rally in the short term and that strong recent foreign selling could hinder the HCMC market from rising. The VN-Index inched up 0.84% against the previous week to end at 568.18 points last week while the HNX-Index fell 1.17% to 78.29 points. Trading volumes on both markets climbed, backed by high liquidity of a number of speculative stocks and the portfolio restructuring of exchange traded funds (ETFs). The volume of matching transactions on the HCMC bourse jumped over 27% to 548 million shares and that on the Hanoi exchange edged up 2.3% to 169 million units. The HCMC stock market closed down on the first trading day of last week but some large caps … [Read more...] about Short-term stock market rally likely
World stock markets fell on Wednesday as investors sought safety amid fresh worries about the fragile economic recovery, helping propel the yen to a 15-year high against the dollar, analysts said. Another safe-haven currency, the Swiss franc, struck a record high against the euro, while Asian stocks fell heavily after losses on Wall Street overnight. … [Read more...] about World stocks drop as investors seek safety
Voicing her opinion at an online discussion on December 20, Pham Minh Huong, Chairwoman of the Board at VNDIRECT Securities Corporation, said the stock market’s 2017 growth was spectacular but not surprising. Her prediction for 2018 was that the finance, energy and manufacturing sectors will experience strong growth, which means they are likely to be recommended to both up-and-coming and experienced investors by financial experts. Huong said that although the banking and finance sector would still face a lot of institutional and bad debt risks, commercial banks, securities and insurance companies have learned their lessons and are well prepared for the challenges to come. With Vietnam’s fast-growing consumer economy, the manufacturing and energy sectors will always be attractive. Aviation is another safe bet, as living standards and tourism increase, she said. The year 2018 is set to mark the beginning of Vietnam’s next stage of financial growth, with the … [Read more...] about Experts optimistic about 2018 stock market prospects