Stock Market Reverses on Thin Trade

On the OTC market, investors are now cautious about making deals instead of just buying any shares that happen to be. (Photo:TK)

Before shutting down for two days this weekend, the Vietnamese stock market rose slightly despite a relatively small volume of shares being traded in this morning’s session.

By the close of the day’s session, the VN-Index had climbed 4.3 points to 1089.6 (0.4%). In a repeat of yesterday’s stagnant trade, just 6 million shares changed hands for VND828 billion.

Only 43 of the 109 stocks went up, while 45 fell and 21 remained unchanged. The big movers responsible for the higher index reading were blue-chip stocks, with BMC up by VND16,000, TCT by VND11,000, NAV by VND11,000, SFI by VND11,000 and STB by VND6,000.

On the OTC market, investors are now being cautious about making deals instead of just buying any shares that happen to be on the market. This has led to a dramatic drop in price on many share items. In recent days, there were 1,230 items available on the market, but only 40-50 of them were experiencing regular trading.

Many items, which once sold at very high levels, have seen their prices drop dramatically. Shares in the petroleum, banking, securities, insurance, real estate and rubber production industries, however, are still proving to garner the most demand.

According to one financial expert, "This was a good sign for the stock market, as it showed that investors based their investment decisions on experience and knowledge, not just on how they felt that particular day".

Today’s winners and losers

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By Trong Khuong

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