VNStockNews.com - The Ho Chi Minh Stock Exchange index fell 1.68 percent to close at 425.29 points on Friday. Foreigners bought 41.44 billion dong ($2.02 million) worth of stocks and sold shares worth 47.94 billion dong, the exchange said.
Volume of shares traded: 23.92 million shares. Value of shares traded: 378.24 billion dong.
Francois Chavasseau, fixed income research analyst, Sacombank Securities Co Ltd:
"Stocks fall sharply in part because the market could fear some poor Q2 (second quarter) results and partly due to a circular being drafted by the State Bank of Vietnam to cap securities loans at 3 percent of their equity."
"(That) would mean 10 trillion dong of loans needed to be slashed."
Le Thanh Duc, deputy general director, Lien Viet Securities Co:
"Stocks fell strongly as many retail traders sold, partly dragged down by pressures from margin calls. While valuations are attractive, many institutional investors have not entered, waiting for more positive macro news."
Nguyen Phuc Thinh, head manager of research and corporate finance department, Hoa Binh Securities:
"The stock markets are in the correction period and most traders are cautious, which lead to low liquidity. Investor confidence is weaker than two months ago. Money still stayed with the market." ($1=20,510 dong) (Reuters)
