Thursday,  Nov 15, 2018,13:49 (GMT+7) 0 0
VN-Index expected to recover in November
By Phuong Thao
Tuesday,  Nov 6, 2018,19:30 (GMT+7)

VN-Index expected to recover in November

By Phuong Thao

HCMC – Securities enterprises have predicted the stock market to recover this month, saying that domestic economic factors are still giving support to local equities while bad impact from the global market has subsided.

Nguyen The Minh, analysis director of Yuanta Vietnam Securities Company, said the stock indexes worldwide have recovered since early this month while listed enterprises in the country have announced good business results. Therefore, the VN-Index of the Hochiminh Stock Exchange may bounce back and approach its short-term psychological level at 1,000 points.

Regarding performances of listed firms, Minh said many enterprises fared well in the third quarter due to better macroeconomic conditions, resulting in less risks for the stock market. In addition, now is the time for investors to re-evaluate share prices and consider new disbursement, Minh said on

Bui Nguyen Khoa, head of market analysis team of BIDV Securities Company, also predicted the VN-Index to test the 1,000-point level again. However, the market may see further fluctuations as supporting factors remain weak.

Minh of Yuanta Vietnam said that investors should consider coming back this month given the favorable conditions, including enterprises having good businesses results in the third quarter and prospects of special advantages from the Comprehensive and Progressive Trans-Pacific Partnership.

According to the expert, investors should pay attention to the banking, property and apparel sectors. Notably, most real estate enterprises report the biggest earnings in the last quarter.

The VN-Index dropped a slight 3.48 points, or 0.38%, at 922.05 today, November. Trading volume and value on the HCMC market rose 2% against the previous session to 139 million shares worth VND3.1 trillion.

Financial group OGC became the most actively traded stock with 5.34 million shares changing hands. Having hit the upper limit for two consecutive sessions, OGC advanced just 1% at VND3,040. Meanwhile, steel maker HSG ranked next for liquidity with volume of 5.32 million shares, adding 0.2% at VND8,720.

The HNX-Index of the Hanoi Stock Exchange slid 0.93% at 104.55. Turnover on the northern exchange sharply improved as volume and value jumped 21% and 11% at 36.8 million shares worth VND504.6 billion, respectively.

Lender ACB was the key drag behind the decline as it slumped 2.6% at VND29,400 on matching volume of 2.6 million shares. PVS, an oil and gas firm, fell 1% at VND19,900 but it took the lead for liquidity with 4.4 million shares traded.

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