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Stock investors turn more cautious after taking loss

The stock market these days is beset with anxiety and cautiousness. Investors cannot predict how the stock prices while foreign investors sell more than buy.

The VN Index has dropped from 1,025 points to below 960 while investors complain their accounts have undergone big losses.

 

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Dao Tuan Trung from VietinBank Securities estimated that only 5 percent of investors in Vietnam can make a profit, while the remaining 95 percent either take a loss or break even. The figures show that it is more and more difficult to seek short-term profit in the market.

In fact, investors only took a loss when the VN Index corrected. They began taking a loss in late October and early November, when the market was bustling.

Analysts said this is understandable, because the VN Index increased mostly thanks to increases of the shares with high capitalization value. Meanwhile, most other shares saw prices decrease.

The VN Index has dropped from 1,025 points to below 960 while investors complain their accounts have undergone big losses.

With the spells of correction which occurred later, many shares continued falling in price. Even the investors holding bluechips also suffered.


Of the three trading sessions in early December, one saw the VN Index increasing and two sessions saw a decrease, prolonging the spell of decreases commencing from November 8.

On December 4, bluechips helped the market soar. However, bluechips caused the market to decline on December 5. As the investors were cautious, the cash flow into the market shrank and the VN Index is not likely to bounce back.

On December 6, 129 shares increased in price at the HCM City Stock Exchange (HOSE) and 136 shares decreased. The VN Index increased by 0.19 percent. At the Hanoi Stock Exchange, 34 shares increased and 50 decreased. The HNX Index rose by 0.21 percent.

According to Bao Viet Securities, the VN Index needs to exceed the resistance zone of 990-995 points to break the short-term downtrend.

With foreign cash stay in Vietnam?

According to Bloomberg, in the last 10 years, Vietnam’s stock market increased five times and decreased five times in December. The average profit rate was 0. 79 percent. In the first 11 months of 2019, the market three times saw the increase and eight times saw the decreases. The average profit rate was minus 2.15 percent.

Tran Duc Anh from KB Vietnam Securities said the average stock price in Vietnam has come back to the relatively safe zone in comparison with 2017-2018, especially when listed companies continue expanding their business thanks to favorable macroeconomic conditions. This is an important reason for investors to increase the proportion of stocks to the higher average level.

According to Maybank Kim Eng Securities, the picture about the business performance of listed companies in Q3 had many bright parts.

Kim Chi 

 

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