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UPDATE 1-Vietnam Index up 0.51 pct, outlook positive
March 20, 2012 / 8:23 AM / 6 years ago

UPDATE 1-Vietnam Index up 0.51 pct, outlook positive

(Updates with close, foreigner trading details, more comments)

HANOI, March 20 (Reuters) - The Ho Chi Minh Stock Exchange’s VN Index rose 0.51 percent to close at 440.29 points on Tuesday.

Foreigners bought 304.40 billion dong ($14.63 million) worth of shares and sold stocks worth 207.43 billion dong, the exchange said.

Volume of shares traded: 62.75 million shares.

Value: 992.46 trillion dong.

Largest gainers, double-click

Largest decliners, double-click

In Hanoi, the HNX Index on the Hanoi Stock Exchange gained 2.04 percent to finish at 74.39 points, with 78.31 million shares changing hand, valued at 797.05 billion dong.

Broker/trader comments

Chau Thien Truc Quynh, head of retail brokerage, Viet Capital:

“Stocks rose as demand for selective shares, including securities, emerged late in the trading day in hope for solid earnings reports in the first quarter.”

“Sentiment was also stimulated by the monthly inflation data of Hanoi and Ho Chi Minh City.”

“The market outlook will likely be positive in the medium term but risky in the short term as some funds will close their portfolios for net asset values from now until the end of the first quarter.”

“Stocks with solid fundamentals such as banking, food and foodstuff and consumer goods will continue leading the market in the next rally.”

Nguyen Tuan, investment director, FLC Securities:

“Stocks are still on an upward trend but not as strong as expected when major cash flows are on the sidelines.”

“Banking stocks are likely to continue leading the market during a fresh rally in the near future.”

Nguyen Hoai Nam, analyst, Kim Eng Securities:

“Stocks are likely to move sideways to gather more steam in the near term.” ($1=20,810 dong) (Reporting by Vu Duy)

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