Investors look to State to boost plunging stock market

23:10 - 02/05/2017

 

 

(09/01/2008) The VN-Index plummeted again yesterday, dipping well below the 900-mark to its lowest level in over five months. The market ended trading yesterday down a full 16.01 points to close at 887.08, a 1.77-per-cent decline. Value of trading was VND597.73 billion on a volume of 6.4 million shares. Sacombank was the most-traded share, with 673,470 changing hands, followed by Phu My Fertilisers at 650,020 shares and Hoa Phat Group at 434,240.

Only six codes posted gains on the day, including Vinamilk (VNM), which rose 2.5 per cent to close at VND166,000, and Hoa Phat Group (HPG), which gained 1.5 per cent to reach VND98,500.

According to brokers in An Binh Securities Co broker Nguyen Thanh Vinh, the lifting of Vinamilk’s foreign ownership cap to 46 per cent, effective yesterday, fueled rumours that Vinamilk was preparing to soon list shares offshore, increasing investors interest in VNM shares yesterday.

Capital from domestic investors has continued to be limited, while foreign investors were feeling increasingly cramped by share-of-ownership caps, unable to buy further into a number of companies that were attractive to them, said a broker with Thang Long Securities.

"The most sought-after shares, such as Hau Giang Pharmaceuticals or Sacombank, have run out of room for them," he said, with the result that demand was stymied and supply and demand imbalanced. Investors were waiting for the Government to take action to kickstart trading, such as lifting the foreign ownership cap or loosening the restrictions on lending against securities collateral under Directive No 3.

"The Government needs to do something to kickstart trading now, in an effort to avoid a crisis in the stock market and avoid losing the interest of foreign investors," the Thang Long broker said.

The gloomy atmosphere on world markets was also having an impact on the domestic exchange, Vinh said.

"Continuous reductions in neighbouring countries like Thailand or Singapore have impacted the psychology of investors on the exchange," Vinh said, noting that rising oil prices were also worrying investors.

The Ha Noi market also fell yesterday, closing at 297.59, down 12.86 points or 4.14 per cent. Value of trading was VND175.15 billion on a volume of 1.9 million shares.

Kinh Bac Corporation (KBC) and Hai Phong Petrolimex Transportation and Services Co (PTS) were among the few gainers, with KBC going up 0.41 per cent to close at VND196,800, and PTS climbing 2.92 per cent to end the day at VND49,300.

Nguồn: VNA

Các bài viết khác

 

Đường dây nóng Ban Quản lý Khu CNC Hòa Lạc:

- Về đầu tư: 0946.626.286
- Các vấn đề khác: 0922.662.266