Roundup: Vietnam's stock market remains sluggish trading
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E-mail Xinhua, March 29, 2013
Shares on Vientam's stock market remains ups and downs during the week.
With declining cash flows and foreign investors' transactions, the market lacked the momentum to overcome the sluggish state.
The announcement of interest rates cut earlier this week failed to extend the market increase. Companies face a worse first quarter than in 2012, meanwhile the industrial manufacturing index grew at its slowest pace in many years with just 4.9 percent during the quarter.
Technically, the market will not decline significantly, but the fluctuation may continue, Vietnam's state-run news agency quoted analysts as saying.
The VN-Index of the southern Ho Chi Minh Stock Exchange (HoSE) went up 0.37 points or 0.08 percent to close at 491.04 points on Friday.
During the week, VN-Index gained 1.05 point or 0.21 percent against last Friday's closing session. The index experienced three ups and two downs, posting the highest level of 493.57 points on Monday and the lowest level of 489.46 points on Tuesday.
Last week VN-Index ranged from 479.13 points to 491.79 points.
A total of 38.988 million shares worth 600.343 billion VND (28. 79 million U.S. dollars) changed hands at the HoSE on Friday, a decrease of 17.52 percent in volume and 49.39 percent in value against Thursday.
VN-30 index, the new benchmark index for the HoSE which has been applied since Feb. 6, 2012 and tracks the 30 leading shares by both market capitalization and liquidity, closed at 552.28 points on Friday, up 0.36 points, or 0.07 percent against the previous trading day. A total of 12.508 million shares were traded, worth 334.2 billion VND.
On the country's northern bourse, Hanoi Stock Exchange, the HNX-Index concluded at 60.25 points, down 0.06 points, or 0.1 percent on Friday against the previous trading day's closing session. Endi
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