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VN Index on the rise, securities investors coming back   2011-09-11 - VnExpress

The continued VN Index increases in the last few trading sessions have made securities investors exciting. They have begun coming back to the stock market, believing that the interest rate reductions would help the market prosper again.


The trading volumes on both the Hanoi and HCM City bourses have been increasing significantly so far this week. The first trading session of the week on September 5 witnessed the total transferred securities volume at the Hanoi and HCM City Stock Exchanges, reaching 1600 billion dong, which was higher by 700 billion dong than the average trading volume in August (928.97 billion dong per trading session).

The high trading volumes could also be seen at the two next trading sessions, 1200 billion dong and 1400 billion dong, respectively.

Observers have informed that the liquidity of both the stock exchanges has been improved, while securities investors have become more optimistic. They now make investment decisions and place orders quickly instead of keeping hesitant and cautious as previously.

The majority of investors make transactions via phones. However, a lot of securities investors still go to trading floors, where they can meet each other and discuss the market tendencies.

The people who are present on trading floors these days are office workers, who hope to make profit from investment deals, and “faithful investors” – mostly the ladies aged from 37 to 50. They are present on trading floors every day, even if they do not want to make transactions.

Trading floors these days seem to be more boisterous with lively discussions. “The shares you have are increasing in prices. You are so lucky,” a woman said to the woman sitting next to her.

“The share prices have been increasing. So we will have more opportunities to meet each other,” another woman said.

There always exists the groups of investors, who buy and sell the same shares. Therefore, they can easily share information about the stock price performance and sometimes make collective decisions about whether to buy or to sell shares.

Most of the investors are not keen on using computer and cannot make online transactions. They cannot seek information on Internet or surf on Internet to learn about the market. Therefore, they have to go directly to the trading floors which has become a part of their daily routine.

The bustling trading floors have made securities companies’ officers and brokers happy. One of the brokers said that he once felt that his strength got exhausted because of the quiet trading floor and the falling stock index. However, things are getting quite different now, as the stock market has warmed up again.

According to the Saigon Securities Incorporate (SSI), the continued increases of the VN Index, which has exceeded the last week’s resistance threshold, shows the excitement of investors which had a long period of unsuccessful investments.

IRIS has reported the 200 percent increase in the daily trading volume in comparison with one month ago, while the increase once reached 260 percent on some days.

Nguyen Huu Viet, Head of the analysis division of the Hoang Gia Securities Company, said that the capital flow to the stock market once dropped dramatically several months ago because of the banks’ policy on tightening credit.

However, as the State Bank has shown its determination to slash the lending interest rates to 17-19 percent, while having taken a series of drastic measure to fulfill the task, investors believe that the stock market will warm up. This also means that the stock prices would go up again, thus bringing investment opportunities to investors.

An expert, who asked to be not named, also agreed that the recent moves by the central bank to slash interest rates would help revive the stock market. As the interest rates tend to go down, the gold price has become overly high, and the “real estate bubble” may burst, people would inject money in securities investments, instead of buying gold or depositing money at banks.

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