News

Foreigners returned to be net buyers on the primary bourse HOSE today with a jumbo deal of 1.1 million VIC shares changed hands in the put-through, but they remained net sellers on the HNX for a sixth day in a row.

Vietnam National Assembly or the Congress passed its resolution and socio-economic plans for 2011-2015 period this morning, November 2011 with CPI targets at 5-7% and average GDP growth rates at 6.5-7% with 446 approvals, 7 disapprovals and 5 blanks.

Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the close.

Vietnamese stocks ended mixed as investors continued to sell shares on the primary bourse seeing no sign of a sustainable rally while bargain hunters buoyed the HNX Index after it set fresh all time low yesterday.

The UPCoM-Index, the measure of 127 unlisted public companies, closed down following primary bourse HOSE.

Securities enterprises see no recovery signs on the local stock market this week, predicting that liquidity would keep sliding given the weak cash flow and investors’ cautious sentiment.

Foreigners suddenly changed to be net sellers on the primary bourse HOSE after 10 days of net buyers today and they remained to be net sellers for a fifth day in a row on the HNX bourse.

Liquidity drain is spreading into securities companies on concerns over a wave of cash withdrawals by customers after SME case and recent black market defaults and bank liquidity shortages, Nguyen Minh Cuong, an analyst with SGTT raised concern.

Despite worse than expected results recently due to external and internal problems, we think that HPG can still be consider a star in the sector owing to the fully integrated production chain, Marc Djandji, Director,Research Department at VCSC wrote.