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Down trend appears?   2009-06-30 - SanOTC

SanOTC- Down trend in Market had continued and its strength advanced because of fear in investors’ sentiment.


In recent days, the selling activities, concerns from rising interest rate and inflation has raised in coming periods. Selling activities had appeared at the middle of this session in market today and after that it appeared in all stocks of market.  The supply became much stronger therefore the market had a strong down session. Many investors decided to sell because almost of them wanted to take profit and avoid risk because market had advanced too much in recent weeks. At the end of session today as almost blue chips stocks declined caused by the selling activities increased because of concern from investors about the inflation and budget deficit prospect in Viet Nam.


The world economy prospect has appeared some negative sign as World Bank cut the recovery prospect of world economy which said that the recession would last for a long time. The new problem has risen from budget deficit from America and high interest rate concern. This was enough to push the market down in short term because of unstable recovery of American economy. Yesterday, global securities market slightly declined because of unstable recovery sign in financial market of America and inflation concern from budget deficit.  In Vietnam almost investors had been influenced strongly and started to sell.


Hastc opened the day at a bit higher level than previous session but after that the downtrend had continued significantly indicated by a big loss at the end of session. The fearful sentiment seemed to appear as the supply increased in all session through high volume especially in some blue chips.


The Hastc index had penetrated the strong support level at 150 pt as it found at the end of session to 149.04 at 11 am and it was closing level. HaSTC closed the trading day showing a big loss of 4,76 pt or 3.09%. The trading volume was recorded 18.753.700 shares much lower than previous session’s volume. And trading value was valued at VND 660,97 billion filled for 15,843 orders.


The trading value was improved compared with previous session because of investors’ fear in downtrend possibility in short term so that they speeded up selling activities. The market loss did make losers higher than winners and in detail, the market showed 27 stocks advanced, 166 stocks declined and the rest unchanged.


Today, foreign investors started selling aggressively as they sold some stocks with high volume such as VCG with 193400 units and PVC with 200000 units.

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