News

Foreigners were net sellers of Vietnamese shares on both two bourses today as these players took advantage of market rally as the exit chance.

The UPCoM-Index, the measure of 120 unlisted public companies, closed up today following excitement on the official bourses after the State Bank of Vietnam cut OMO interest rate to 14% from previous 15% late yesterday.

The following table showed price quote of outstanding shares on over-the-counter (OTC) market as of June 30, 2011.

Vietnam’s stocks surged today as speculators jumped in to buy shares after the State Bank of Vietnam announced to cut 7 day OMO rate by 1% to 14% after the market close yesterday.

The trend on the nation's stock markets this week will greatly depend on signals sent by Government and central bank policies, rather than the second-quarter earnings reports of listed companies, market insiders say.

Investors with strong financial base have poured large amount into banking share since they expected investment in banks were safest and financial sector would rally soon.

Big investors are facing big hurdles to divest investments amid the declining local market. A foreign investment fund, which focuses on small listed companies, in February had exited just four out of 10 investments

Citigroup has acquired a 9.9 percent stake in Vietnamese securities firm Horizon Securities Corporation for an undisclosed sum to tap into the country's economic growth, it said on Friday.

PM Nguyen Tan Dung stressed the need for the country to curb inflation, stabilize the macro-economy and ensure social welfare for H2.