Vietnamese stocks down at midday, volume shrinks

21-Apr-2012 Intellasia | Reuters | 7:05 AM

Vietnamese stocks ended Thursday’s morning session down in lower volume but they could rebound next week on strong buying demand, market analysts said.

VN Index

-0.85 percent at 468.13 points.

Volume of shares traded: 98.15 million shares.

Value of shares traded: 1.63 trillion dong.

Largest gainers, largest losers

HNX Index

-1.4 percent at 78.22 points.

Volume of shares traded: 56.54 million shares.

Value of shares traded: 581.13 billion dong.

Largest gainers, largest losers

Do Bao Ngoc, analyst, Habubank Securities:

“Stocks fell on talk that fuel prices may be raised.”

“However, buying demand was strong, correction could be short-lived and stocks may turn around next week in hope for low monthly inflation and a shortened settlement period.”

“The market is also looking at a possibility that the cap on lending rates would be applied this week.”

Tran Minh Hoang, analyst, Vietcombank Securities:

“Correction is necessary so that stocks could gather more steam to re-test strong resistance levels.”

“Cash inflows are strong. The indices could rebound early next week.” ($1=20,820 dong)