2010年8月27日 星期五

VN-Index May Bounce Strongly in Q3: Economist

VN-Index May Bounce Strongly in Q3: Economist

Posted: Thursday, August 19, 2010 

 
 The stock market of Vietnam is likely to have a strong bounce in the third quarter, with the VN-Index to hit 550-point level in late September or early October, on expectations of higher cash inflows, an economist said.
 
The strong gains will be supported by the government’s efforts to boost money supply and credits to the economy by the end of this quarter, Dinh The Hien, director of the Institute of Information and Business Research, said at a seminar held by FPT Securities last weekend.
 
The government will continue injecting cash into the recovering economy to speed up state budget-funded projects. Moreover, lending interest rates may fall to 12%-14% and deposit rates to 10% by end-September, Hien said.
 
With positive signals on the monetary market, cash inflows into shares may also be stronger; thus, investors should not pessimistic and buy selective shares at this time instead.
 
The VN-Index, which touched the eight-month low at 448.4 on August 12, is likely to move in a narrow range of 450-500 this month.
 
However, Hien forecast the benchmark may fall to 480-520 at the year’s end as Vietnam will still face risks related to economic restructuring such as high state budget deficit and unsustainable development of the property market.
 
In the first seven months of 2010, total credits rose 12.97%, and money supply grew 12.96% from end-2009, compared to the full-year targets of 25% and 20%, respectively, said Governor Nguyen Van Giau of the State Bank of Vietnam, the country’s central bank. (Vietstock)

沒有留言:

張貼留言