Vn Index set deeper bottom line at 318.96 today
Friday, 21. November 2008, 03:43:06
Nov 20 - Vn Index: 318.96▼-6.78 (-2.08%). Vn Index set a deeper bottom line today at 318.96 with 104 stocks recorded lost against 30 stocks increased, and 36 remained unchanged.
The index started the ending week transaction in an exhausted mood, lost 10.24 point from the very first trade, pulled down the index to 315.50, lower than the bottom line of the year on Oct 28, when Vn Index scored 322.80.
“Stock market of Vietnam is adjusting in line with its real value. The market's up or down depended on a number of factors including the performance of the macro-economy and the business result of listing companies. Stock market is also influenced by the world market. I think that the vision of VN-Index breaking 300 points will come soon.", said a Senior Economist. Picture: Horse's carrying heavy clinkers in Bat Trang Ceramic Village, Hanoi suburb.
Positive news of cutting off basic interest rate to 11% from Central bank seem to be registrant with the market as investors were attacked by continuous negative signals from world market.
"In a short term basis, cutting down basic interest rate will not bring the immediate effect to the market", said the Head of Research Dept. from a Securities Corporation based in Hanoi.
"On the other hand, mobilized & deposit interest rates reduced as the consequence of lower basic interest rate. People may search for another channels to invest, it may bring a little hope for the stock market", commented the chief Researcher on the positive side by lowering basic interest rate.
Forecasting for the last week transaction of the month, the head of Research Dept. from the Hanoi based Securities said: "the possible is high for Vn Index to come lower than 300 points barrier. I am afraid that there would be no extremely good news for the market to improve next week."./.
The index started the ending week transaction in an exhausted mood, lost 10.24 point from the very first trade, pulled down the index to 315.50, lower than the bottom line of the year on Oct 28, when Vn Index scored 322.80.
“Stock market of Vietnam is adjusting in line with its real value. The market's up or down depended on a number of factors including the performance of the macro-economy and the business result of listing companies. Stock market is also influenced by the world market. I think that the vision of VN-Index breaking 300 points will come soon.", said a Senior Economist. Picture: Horse's carrying heavy clinkers in Bat Trang Ceramic Village, Hanoi suburb. Positive news of cutting off basic interest rate to 11% from Central bank seem to be registrant with the market as investors were attacked by continuous negative signals from world market.
"In a short term basis, cutting down basic interest rate will not bring the immediate effect to the market", said the Head of Research Dept. from a Securities Corporation based in Hanoi.
"On the other hand, mobilized & deposit interest rates reduced as the consequence of lower basic interest rate. People may search for another channels to invest, it may bring a little hope for the stock market", commented the chief Researcher on the positive side by lowering basic interest rate.
Forecasting for the last week transaction of the month, the head of Research Dept. from the Hanoi based Securities said: "the possible is high for Vn Index to come lower than 300 points barrier. I am afraid that there would be no extremely good news for the market to improve next week."./.
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