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HaSTC– Cheerful sentiment pushes market go up   2009-05-04 - SanOTC

  Aggressive buying activities had suddenly appeared in market today and the demand became much stronger therefore the market had a strong up session as many stock advanced dramatically today in all sector

 

Many investors decided to buy because almost of them hope on obvious up trend. The market had showed a optimitic sighn in all session today as almost stocks advanced to their ceilling price caused by the buying activities increased because of stable hope in Vietnam economy recovery prospect. Some blue chips had showed their strength at the beginning of session which strongly leaded market today. The market strongly was in good condidion based on the hope of short term investors. The belief of investors had been improved as the global market had a optimistic signs and greed of short term investors was stronger.

 

The world economy prospect has appeared some positive sign as some experts said that the bottom of economic ressesion has passed. This was enough to support the market in long term because of recovery of American economy. In Vietnam almost investors had been influenced strongly and started to buy.

 

The aggressive buying activities had appeared and become stronger and stronger indicated that the demand did increase but the supply stopped so that the volume was in low level. The market had a sign of uptrend with an strong up session and recorded lower volume. The securities market in the world advanced yesterday and it had strongly influenced to Vietnamese market and Vietnamese market showed its cheerful sentiment at the end of session. The resistance level at 120 had been penetrated today because of investors’ belief in long term appeared. The market had showed optimistic sign because of there was some good news from local economy to support the market in short term.  After many down sessions, the market had showed sign for reversal as the HASTC index penetrated the strong resistance level at 120 with low volume. Almost investors who hoped the bottom of market had gone away and almost of them started to by agressively. Today blue chips were up with a big gain which leaded the market strongly up and enough for stopping downtrend. There was no fight between supply and demand. The supply was defeated by the huge demand and demand won the fight indicated by a up session with low volume. The main reasons for cheerful actions of investors were the stable recovery prospect of Vietnamese economy in next quarter. Beside this the Vietnamese economy had some signal of recovery as GDP growth first quarter in 2009 was just down to 3,1% compared with the same period last year, export turnover just went down 0,1 % and the value of industry production just raised 3,3% in four months of 2009 and the investors still took a chereful step.

 

HaSTC opened the day at a big higher level than previous session but after that the uptrend had continued in all session indicated by a big gain at the end of session. The fearful sentiment seemed to disappear as the demand increased in all session through high volume especially in some blue chips.

 

The Hastc index had penetrated the strong resistance level at 120 pt as it found at the end of session to 121,49 at 11 am and it was closing level. HaSTC closed the trading day showing a big gain of 6,49 pt or 5.64%. The trading volume was recorded 8.702.300 shares less than previous session’s volume. And trading value was valued at VND 170,48 billion filled for 6641 orders.

 

The trading value was not improved compared with previous session because of investors’ speculation in uptrend possibility in short term. The market gain did make losers lower than winners and in detail, the market showed 172 stocks advanced, 2 stocks declined and the rest unchanged.

 

Top 5 market cap showed some uptrend signal when almost of them advanced with low volume. In detail ACB was up to VND 39.200 a share; BVS was up to 31.900 a share; KLS was up to 18.100 a share, PVI was up to VND 29.800 a share, VNR was up to VND 31.400 a share.

 

Today, foreign investors started selling agressively as they sold some stocks with high volume such as PLC with 50.000 units, PVS with 80000  units.



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