Viet Nam WVB Financial Intelligence Services and PetroVietnam Finance Investment and Consultancy Co's Business Confidence Index (BCI) was announced to have dropped 11 points from the previous quarter.
The survey looked at the country's leading enterprises in total assets, revenue, and number of employees across various industries, drawing the participation of 233 companies across 11 industries and sectors. The index was based on six components, including current economic conditions, economic outlook, expected change in employment, planned fix investment, and expected revenue and profit growth.
"Most participants believed that the increase in the prime rate to 9 per cent – one of the measures taken by the State Bank of Viet Nam as part of overall tightening of monetary policy – would help curb inflation in the short- and medium-term," said a report accompanying the survey results.
But 41 per cent of respondents thought that a shrinking money supply could affect the gold and stock markets.
On the HCM City Stock Exchange yesterday, trades totalled VND790.4 billion (US$37.6 million) on a volume of 33.8 million shares, figures comparable to last Friday's levels.
"Low trading volumes reflect the market's consolidation as it hovers near the 480-mark," said Sacombank Securities Co analysts. "It is possible that the market could continue sliding away in the next few sessions if there is no sudden change in money flow. But the consolidation over the past two weeks is essential to prepare for an uptrend in the future."
Advancers outnumbered decliners by 195-50, with Sacombank (STB) achieving the status of most-active share with 2.3 million traded.
The HCM City exchange welcome its 305th listing yesterday, with Truong Long Engineering and Auto Joint Stock Co (HTL). The company posted a profit of almost VND27 billion ($1.29 million) in 2010, a result projected to rise to VND44 billion this year. HTL paid a 20-per-cent dividend on last year's profits and is aiming for a 25-per-cent in 2011. On their opening day of trading, HTL shares closed at VND23,500 ($1.1).
On the Ha Noi Stock Exchange yesterday, the HN-Index finished the session down 2.37 per cent from Friday's close to 107.47 points. The volume of trades reached 31.4 million shares, worth VND592.5 billion ($28.2 million), slightly higher than last Friday's totals. The number of declining shares rose to 237, while only 50 shares posted gains.
Kim Long Securities (KLS) was the most-active share on the northern market, with 2.8 million changing hands.Source: vnagency.com.vn
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