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You are here: Home / HCMC / Stock market still in dire need of capital

Stock market still in dire need of capital

October 25, 2016 by robert Leave a Comment

By Thanh Thuong – The Saigon Times Daily HCMC – Although investment channels like gold and real estate are facing gloomy days given economic uncertainties, the cash flow has yet to run into the stock market, seen by modest movements of the VN-Index and low liquidity. Some experts say investors are still cautious the market may not bring about profits as expected. The equity market since early last month has been moving sideways with the VN-Index just hovering around the 460-point level. Trading value is VND600-700 billion each session, which is much lower than the average of last year. In February, the VN-Index for several times climbed to over 500 points and even hit a high of 552 points on February 9. However, it quickly retreated after the central bank decided to devaluate Vietnam’s dong by 9.3% on February 11. The outlook for the market turned even dimmer after the Government’s Resolution 11 indicated that capital flows for stock investment would decrease to help curb inflation. Le Dat Chi, head of the Financial Investment Department of HCMC University of Economics, says the market is almost flat due to macro economic uncertainties. Investors are hesitant to pick up stocks over concerns on further declines in the future. Chi says investors still keep capital at banks to enjoy high interest rates before they see clearer signs for the market’s tendency. Some small commercial banks have increased deposit rates for non-term loans to 9% to 10%, making it an attractive and safe channel…




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