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NEWS UPDATES Asean Affairs   12 November 2013  

Speculative stocks attract foreign investment

Vietnam:The stock market saw strong cash flow into speculative stock last week as foreign investors continued to support the market as net buyers.

On the HCM City Stock Exchange, the VN-Index closed 0.3 per cent up at 498.61 points, while the HNX-Index on the Ha Noi Exchange leaped 2 per cent to 63.29 points.

The benchmark index edged up in the week's first three trading days to reach 502.52 points on Wednesday, though it fell below the critical 500-point level in the last two days.

Trading volume on the southern bourse averaged 80.433 million shares with an average value of VND1.002 trillion (US$47.71 million).

On the Ha Noi Exchange, the average trading volume and value reached 49.787 million shares and VND331.12 billion ($15.76 million).

The matching volume on HCM City Exchange rose by 72.2 per cent over the previous week while soaring to 141.1 per cent on the capital city's bourse.

Penny and mid-cap group stocks benefited from high trading volume last week, including FLC Group (FLC), Tu Liem Urban Development Company (NTL), Binh Thuan Mining Company (KSA), Binh Duong Mining and Construction Company (KSB), Hoang Quan Real Estate Company (HQC), Licogi 16 (LCG) and Tay Bac Mining Company (KTB). This helped boost investor sentiment and helped the benchmark indices advance on Tuesday and Wednesday.

However, blue chips failed to lure investors, dragging down the VN-Index in the last two trading days.

According to stock analysts at, strong cash flow into the market helped improve liquidity, with demand focused on speculative stocks in sectors like mining, real estate, construction and fisheries.

Mining shares led the market last week with a growth rate of 3.5 per cent, followed by fisheries shares (up 2.7 per cent), transportation shares (up 1.6 per cent) and real estate shares (up 0.54 per cent).

Notably, HCM City-listed Licogi 16 (LCG) shares increased 28.9 per cent as rumour spread that it would sell its Sky Park Residence project to a partner for VND160 billion ($7.2 million).

PetroVietnam Real Estate (PVL) rose by 37.5 per cent, the highest increase on the Ha Noi Exchange.

Foreign investors concluded last week with a net value of VND269 billion ($12.8 million), focusing on Sai Gon Water Infrastructure Company (SII), Pha Lai Thermoelectric Plant (PPC) and Ocean Group (OGC).

According to BIDV Securities, the market saw strong cash flow last week, although buyers focused on penny and small cap groups rather than blue chips. This helped maintain market liquidity while narrowing price gaps between different stock groups.

FPT Securities said that investors should consider selling some of their speculative stocks, which increased last week, both in order to make a profit and to reduce risk.

Experts at a workshop held by APEC Securities late last week said it was time for investors to consider buying real estate stocks, as recent Government measures are widely expected to thaw the market, which has been "frozen" since 2008.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

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