Stocks Down, Foreign Investors Continue Buying In

On May 10, Viet Nam’s stock average continued to drop. The VN-Index lost 25.58 points as 35 out of 36 stocks closed at floor prices. The index, thus far, has gone down 91.29 points in 6 early trading sessions of May, a decrease of 14.91%.

Investors put selling orders in careworn. (Photo: T.C)

Despite the dropping prices, there was no big fluctuation in trading volume and active investors. Each session saw an average of 4.28 million shares changing hands within 2,500 active investors.

The total trading volume from May 3 to May 10 reached nearly VND 2,300 billion, an average of VND 383 billion per session which approximated that of April, VND 394.2 billion.

It is worth mentioning that foreign investors kept on buying in despite the falling prices. Statistics from the trading center showed that foreign investors have bought 920,320 shares in the past week.

In the May 10 trading session, foreign investors owned more than 374,600 shares, accounting for 34.21% of the market’s total trading volume.

As for the proprietary investment of securities brokerage firms, buying volume is also greater than selling. These firms have bought 70,500 shares, or 6.44% of the market volume, while selling nearly 26,880 shares.

The latest information from the Ho Chi Minh City Securities Trading Center (HSTC) showed many optimistic signs as more “quality shares” are permitted on the list of Viet Nam’s stock market.

Besides 4 companies that have submitted their applications, including Sai Gon Thuong Tin Joint-stock Commercial Bank (Sacombank), Materials & Petroleum Joint-stock Company (Comeco), Sea Transport Joint-stock Company (Pjico) and Vien Lien Joint-stock Company, 3 other companies already get the approval of listing from the State Securities Commission (SSC).

They are Song Da Industrial Zone Urban Investment Development Joint-stock Company, International Food Joint-stock Company (Interfood) and Ry Ninh II Hydroelectric Joint-stock Company. Vinh Son – Song Hinh Hydroelectric Joint-stock Company (VSH), which is currently listed on Ha Noi Securities Trading Center (HASTC), and Sai Gon Shipping Line Joint-stock Company also show interest in listing on HSTC.

HSTC Director Dr. Tran Dac Sinh told the press on May 10 that even Asia Joint-stock Commercial Bank (ACB) intends to join the listed market by the end of this year if the upcoming listing of Sacombank succeeds.

He also said that the center expects to open a training course on May 18 to supply information and knowledge of the stock market to investors.

Related Articles:
Stocks Drop Again As New Investors Shaken
Viet Nam's Stock Market: Price slip, Volume climb
Sacombank to Raise Chartered Capital
Interfood - Another FDI Company to Go Public
Attractiveness from The Ha Noi Bourse
ACB Expands Banking Network

Related Links:
Ho Chi Minh City Securities Trading Center (HSTC)
Ha Noi Securities Trading Center (HASTC)

By Tuong Chau

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