Monday, January 7, 2008

STB: Trading result of an institution

STB: Trading result of an institution
Listed firm: Saigon Thuong Tin Commercial Joint Stock Bank

Stock symbol: STB

Trader: Australia and New Zealand Banking Group Limited

Position in the listed firm: Member of BOD

Owning volume before trading: 43,784,970 shares

Volume registered to buy: 703,172 shares

Bought volume: 703,170 shares

Owning volume after trading: 44,488,140 shares
VSE

STB: Trading Result of a member of BOD

07/01/2008 10:05:00 SA

STB: Trading Result of a member of BOD
Listed firm: Saigon Thuong Tin Commercial Joint Stock Bank

Stock symbol: STB

Trader: Mr. Tran Van Ngoc

Position in the listed firm: Member of BOD

Owning volume before trading: 5,127,032 shares

Volume registered to sell: 1,000,000 shares

Sold volume: 1,000,000 shares

Owning volume after trading: 4,127,032 shares

Trading period: from 11/26/2007 to 12/26/2007
VSE

TSC: Trading of affiliated person

TSC: Trading of affiliated person
Techno – Agricultural Supplying Joint Stock Company has disclosed result of trading of affiliated person as follows:

Stock symbol: TSC

Trader: Pham Van Manh

Having relation to: Pham Van Tuan (brother)

Position of the affiliated person in the listed firm: chairman of BOD – Director General

Owing volume before trading: 12,810 shares (0.15%)

Sold volume: 6,810 shares

Owning volume after trading: 6,000 shares (0.07%)

Trading period: from November 2nd 2007 to December 31st 2007
VSE

VFMVF1 - NAV from 21 Dec to 28 Dec 2007

VFMVF1 - NAV from 21 Dec to 28 Dec 2007




Vietnam Securities Investment Fund (VF1 Investment Fund) reports NAV from 21 Dec to 28 Dec 2007 as follows:

By VND

No.

ITEMS

CURRENT PERIOD

PREVIOUS PERIOD

28-Dec-07

21-Dec-07

1

Changes in NAV due to investment activities in week

(36.981.455.814)

2.179.160.931

2

Changes in NAV due to trading activities between the fund and investors

3

Total changes in NAV (1+2)

(36.981.455.814)

2.179.160.931

4

Beginning NAV

3.851.987.294.540

3.849.808.133.609

5

Ending NAV

3.815.005.838.726

3.851.987.294.540

6

NAV per unit (*)

38.150

38.520

(*) based on a total of 100,000,000 units.

TIE – approval in principle of listing

TIE – approval in principle of listing
Telecommunications - Industry - Electronics Joint Stock Company (TIE) has been approved in principle of listing 9,569,900 shares on HOSE.

VSE

VSH: Insider Trading

VSH: Insider Trading
Listed firm: Vinh Son - Song Hinh Hydropower Joint Stock Company

Stock symbol: VSH

Trader: Mr. Nguyen Duc Doi

Position in the listed firm: Chairman of BOD

Owning volume before trading: 503,300 shares

Volume registered to sell: 150,000 shares

Sold volume: 70,800 shares

Owning volume after trading: 432,500 shares

Trading period: from 05/25/2007 to 11/25/2007

Mr. Nguyen Duc Doi did not sell all of the registration volume because the offer price was not matched.
VSE

VTB: Annual Shareholders’ Meeting

VTB: Annual Shareholders’ Meeting
HOSE announces the record date for the list of shareholders attending the Annual Shareholders’ Meeting 2008 as follows:

Name of the listed firm: Viettronics TanBinh Joint Stock Company (VTB)

Stock symbol: VTB

Stock type: Common stock

Par value: VND 10,000

Ex-right date: January 10th, 2008

Record date: January 14th, 2008

Meeting time: 1:30pm on February 16th, 2008

Meeting venue: White Palace, 194 Hoang Van Thu St., Ward 9, Phu Nhuan Dist., HCMC.

Key contents of the meeting:

Business Operation Report and Financial Report in 2007;

Result of issuing stock to the public;

Approving the profit distribution in 2007;

Approving the Business Plan for 2008;

Approving the plan of setting up subsidiary;

Approving the investment plans for major projects;

Amending the regulation of the company.

Those who cannot present at the meeting may authorize other shareholders, or VTB’s BOD, or VTB’s Supervisory Board with the authorization letter at the website: www.vtb.com.vn.



Vietnam Securities Depository – Hochiminh City Branch will temporarily suspend deposit activity for VTB on January 11th, 14th & 15th, 2008.

VSE

HAS – approval of listing

HAS – approval of listing
Hanoi P & T Construction & Installation Joint Stock Company (HACISCO) has been approved of listing 1,497,466 shares on HOSE.

VSE

HRS – share transference

HRS – share transference
Horizon Securities Corporation (HRS) has informed of changing ownership rate of foundation shareholders as follows:

Transferor: Mr Luu Tuong Bach – foundation shareholder

Receiver: Horizon Investment Consultancy Co. Ltd., - foundation shareholder

Transferred stock:

Stock type: common stock

Volume: 360,000 shares, equivalent to 30% of chartered capital
VSE

FBT: First listing and trading dates

FBT: First listing and trading dates
Pursuant to Listing License No.188/QD-SGDHCM dated December 27th, 2007 granted by the Hochminh Stock Exchange (HOSE), the Ben Tre Forestry and Aquaproduct Import – Export Company will list and trade its shares on the exchange as follows:

Listed firm: Ben Tre Forestry and Aquaproduct Import – Export Company

Short name: FAQUIMEX

Add: 71, Highway 60, Chau Thanh Town, Chau Thanh District, Ben Tre Province

Tel: (84-75) 895 795/610 350 Fax: (84-75) 895 569

Stock type: common stock

Stock symbol: FBT

Par value: VND10,000

Listing volume: 15,000,000 shares

Total value: VND150,000,000,000

Effective date of the listing license: December 27th, 2007

First trading date: January 14th, 2008

Referred price on the first trading date: VND45,000/ share

Price range on the first trading date: 20% compared to the referred price.

ITA – personnel change

ITA – personnel change
Tan Tao Investment Industry Corporation (ITACO) has informed of personnel change as follows:

Mr Nguyen Tan Minh has resigned the positions of Deputy Director General of ITACO and Director General of ITA supply water joint stock Company as from January 1st 2008.
VSE

MPC – personnel change

MPC – personnel change
Minh Phu Seafood Joint stock Company (MINH PHU SEAFOOD CORP) has informed of personnel change:

Mr Le Van Diep was appointed to be Deputy Director General and Finance Director as from January 3rd 2008.
VSE

RAL: Listing and trading the additionally issued shares

RAL: Listing and trading the additionally issued shares
The Hochiminh Stock Exchange (HOSE) announces the details of listing and trading the additionally issued shares as follows:

Name of the listed firm: Rangdong Light Source and Vacuum Flask Joint Stock Company

Short name: RALACO

Add: 87-89 Ha Dinh St, Thanh Xuan Dist, Hanoi City

Tel: (84-4) 8584310 Fax: (84-4) 8585038



Pursuant to Decision No 187/QD- SGDCK dated December 27th, 2007, the Rangdong Light Source and Vacuum Flask Joint Stock Company will list and trade the additionally issued shares on the exchange as follows:

Stock symbol: RAL

Stock type: Common Stock

Par value: VND10,000

Registered volume to issue: 3,585,000 shares

Total value (basing on par value): VND35,850,000,000

Effective date of the listing license: December 27th, 2007

Trading date: January 8th, 2008

SJ1 – personnel change

SJ1 – personnel change
Seafood Joint Stock Company No 1 (SEAJOCO VIETNAM) has informed of personnel change as follows:

Ms Nguyen Thi Bach Nhan was appointed to be Director General of SEAJOCO VIETNAM instead of Ms Nguyen Thi Lien Phuong.

Ms Nguyen Thi Lien Phuong was appointed to be chairman of BOD instead of Ms Nguyen Thi Bach Nhan.

Changes are effective as from January 1st 2008
VSE

SSC: The record date for shareholder list

SSC: The record date for shareholder list
HOSE announces the record date for shareholder list as follows:

Name of the listed firm: Southern Seed Corporation (SSC)

Stock symbol: SSC

Stock type: Common stock

Par value: VND10,000

Ex-right date: January 11th 2008

Record date: January 15th 2008

Pay-out dividend ratio for the second time 2007: 6%/par value (VND600/share)

Implementation date: January 31st 2008

Place to receive dividend:

Shareholders whose shares have been deposited: at the securities firms where shares have been deposited

Shareholders whose shares have not been deposited at:

In the South: Southern Seed Corporation

Add: 282 Le Van Sy, Ward 1, Tan Binh Dist., HCMC

Tel: 08.9907974 – 8442414 Fax: 08.8442387

In the North: Branch of Southern Seed Corporation

Add 489/14 Nguyen Van Cu, Long Bien Dist., Hanoi

Tel: 04.8274343 – 8774958 Fax: 04.6500762

Please submit ID and shareholder certificate, legal authorized letter (if any)



Viet Nam Securities Depository – Hochiminh Branch will temporarily suspend the depository activities for SSC on January 14th, 15th & 16th 2008.
VSE

SFC: INSIDER TRADING

SFC: INSIDER TRADING
Saigon Fuel Company (SFC) has disclosed the insider trading as follows:

Stock symbol: SFC

Trader: Dang Ngoc Dung

Position in the listed firm: Head of Supervisory Board

Current owing volume: 17,200 shares

Registered volume to sell: 7,200 shares

Owing volume after trading: 10,000 shares

Estimated trading period: from January 7th 2008 to April 7th 2008

PAC: The record date for additional issuance

PAC: The record date for additional issuance
HOSE announces the record date for additional issuance as follows:

Name of the listed firm: Dry Cell and Storage Battery Joint Stock Company (PINACO)

Stock symbol: PAC

Stock type: Common stock

Par value: VND10,000

Ex-right date: January 17th 2008

Record date: January 21st 2008

Issuing volume to existing shareholders: 3,000,000 shares

Issuing method:

Exercise ratio: 4:1 (on the record date, shareholder who owns 1 share will have 1 right; 4 rights can buy 1 share. The number of additionally issued shares is rounded in tens). The remaining shares after being rounded and the shares which shareholders refuse to exercise right will be offered to others at the price not less than the one to existing shareholders.

For example: On the record date, shareholder Nguyen Van A who owns 1,250 shares will have 1,250 rights thus he can buys 1,250 x 1/4 = 312.5 shares. After being rounded, he actually buys 310 shares.

The right is transferable only once.

The additional issued shares are transferable.

Issuing price to existing shareholders: VND25,000/share

Transference period: from January 29th 2008 to March 4th 2008

Time for registering and depositing money to buy shares: from January 29th 2008 to March 6th 2008.

Place to register and deposit money:

Shareholders whose shares have been deposited: at the securities firms where shares have been deposited.

Shareholders whose shares have not been deposited at the following places:

HCMC : PINACO, 321 Tran Hung Dao, Dist.1, HCMC

Hanoi : PINACO – Hanoi Branch, 2 Dang Thai Than, Hoan Kiem Dist., Hanoi

Danang : PINACO – Danang Branch, 212 Dien Bien Phu, Thanh Khe Dist., Danang.

Estimated issuing date: April 8th 2008

Bank for blocking money:

Account No.: 310.10.00.0465119 – Bank for Investment and Development of Vietnam – Ho Chi Minh Branch (134 Nguyen Cong Tru, Dist.1, HCMC)



Viet Nam Securities Depository – Hochiminh Branch will temporarily suspend the depository activities for PAC on January 18th, 21st & 22nd 2008.

Source:VSE

VNM – ownership rate of foreign investors

VNM – ownership rate of foreign investors
The State Securities Commission has informed of issuing and listing stock of Viet Nam Dairy Products Joint-Stock Company (VINAMILK) on the foreign market.

VINAMILK can issue the whole volume of additional issued shares, equivalent to 5% of current chartered capital. It will be deposited at Singapore Securities Depository which opens depositing account at Vietnam Securities Depository. Vietnam Securities Depository is responsible for supervising and maintaining ownership rate of foreign investors not exceeding 49% of chartered capital, in which Singapore Securities Depository will not hold exceeding 3% of chartered capital after issuance (not exceed total listing share volume on Stock Exchange of Singapore). Therefore, ownership rate of foreign investors on Vietnam stock market is 46% of chartered capital.(VSE)

VN-Index falls below 900 points

VN-Index falls below 900 points
Source: VNAgency

07/01/2008 -- 3:17 PM
HMC City (VNA) – The VN-Index at the Ho Chi Minh City Stock Exchange (HoSE) shed 16.01 points to slide below the 900 point threshold at the January 7 trading session.

The index stood at 887.08 points at the end of the session, with 9.2 million shares worth more than 870 billion VND changing hands.

Big losers included Nam Viet Seafood (NAV), Binh Dinh Mining (BMC), Tay Ninh Cable Car Tour (TCT) and Hau Giang Pharmaceutical with decreases per share ranging from 8,000-52,000 VND.

The HaSTC-Index at the Ha Noi Securities Trading Centre dipped by 12.86 points to end at 297.59 points. Only 1.9 million shares worth over 171 billion VND changed hands.

According to investors, Viet Nam ’s stock market is showing signs of instability, thus worrying domestic buyers.-Enditem

VNM: Vinamilk alters cap for foreign owners

Vinamilk alters cap for foreign owners

07/01/2008 -- 11:37 AM
HCM City (VNA) – The Viet Nam Dairy Product Company will lower the cap for foreign ownership of its stock on the HCM City Stock Exchange in compliance with securities regulations limiting foreign stock ownership to 49 percent.

The company will reduce the cap from 49 to 46 percent, HoSE said in a recent statement. The three point reduction comes after Vinamilk committed 3 percent of its foreign-owned stock to the Singapore Depository Centre as part of an overseas share-listing agreement.

As a term of the State Securities Commission’s approval for Vinamilk to list shares overseas, Vinamilk is only allowed to list overseas a quantity of shares equal to 5 percent of the company’s charter capital at the time of issuance.

The shares will be deposited at the Singapore Depository Centre. As per the agreement, the Singapore Depository Centre will be able to hold shares worth up to 3 percent of Vinamilk’s charter capital after the company begins listing shares on the Singapore Stock Exchange.

Vinamilk was one of the first domestic enterprises approved to list shares overseas in the 2008-09 period.

The corporation plans to issues 8.85 million shares overseas, worth a total of 88.52 billion VND, it said in its proposal statement to the HoSE.

Mai Kieu Lien, general director of Vinamilk, said that the listing overseas would help the company mobilise more capital for its projects during 2008, as well as to expand its business worldwide.

She pledged to carry out the listing as soon as possible, right after the company has completed all legal procedures.

Vinamilk on January 4 closed downed by 1.22 percent to 162,000 VND, with 98,260 units traded.-Enditem

Bao Viet insures A Luoi hydropower plant

Bao Viet insures A Luoi hydropower plant
Source: VNAgency
07/01/2008 -- 11:37 AM
Thua Thien-Hue (VNA) – The Central Region Hydropower Joint-Stock Company and Bao Viet, the country’s leading non-life insurance provider, signed on January 4 an insurance contract for the A Luoi Hydropower Plant.

The plant, located in A Luoi district in central Thua Thien-Hue province, has been insured for 2.1 trillion VND (130.8 million USD).

A Luoi Hydropower Plant, with investment of more than 3.3 trillion VND (207 million USD) can supply 686.5 million kWh per year.-Enditem

Constrexim to list on HASTC

Constrexim to list on HASTC
Source: VNAgency

07/01/2008 -- 11:37 AM
Ha Noi (VNA) – Ha Noi Securities Trading Centre (HASTC) announced that it received sufficient proceedings from Constrexim No. 8 to allow them to list.

The Viet Nam Construction Investment and Import-Export Corporation (Constrexim) has a charter capital of 19.6 billion VND (1.2 million USD).

The State holds 13.76 percent and the remainder belong to the company’s shareholders and the public.

The company specialises in designing and building civil construction work, as well as appraising and producing construction materials.

Foreign investors seeking to purchase BVSC shares

Foreign investors seeking to purchase BVSC shares
18/12/2006 01:58:00 PM

Many foreign investors have expressed their desire to make capital contributions to the Bao Viet Securities Company (BVSC) by purchasing shares, according to Nguyen Quang Vinh, BVSC Director General.

Mr Vinh officially announced that BVSC would list at the Hanoi Securities Trading Centre (HASTC) starting December 18.

“These are big and prestigious international financial institutions in the world, which want to make capital contributions to BVSC as strategic shareholders,” said Mr Vinh.

However, BVSC will only consider proposals from investors when it kicks off the plan to increase its chartered capital in the second phase, slated for early 2007.

“The decision will be made after BVSC’s parent group, Bao Viet, the leading insurer in Vietnam, set up its development strategy,” Mr Vinh said.

“If we choose strategic shareholders in advance, our choice may conflict with Bao Viet’s decisions to be made later, when the group is equitised.”

Regarding the increased chartered capital, BVSC will present the detailed plan during the annual shareholder’s meeting to be held in early 2007. The company’s chartered capital will be raised to either VND250 billion (US$15.62 million) or VND300 billion (US$18.75milliom).

BVSC has increased its capital from VND50 billion (US$3.1 million) to VND150 billion (US$9.3 million). However, the capital level proves to be not high enough to meet the requirements to be legalised by the State Securities Commission, which say that securities companies must have the minimum capital of VND200 billion (US$12.5 million). BVSC, like many other securities companies, will have no other choice than increasing its chartered capital.

On Dec 18, BVSC shares are scheduled to put into transaction at the Hanoi Securities Trading Centre. The company will be the third securities companies to list shares on the stock market.

Source: VietNam Agency

Trading information dated Jan. 07, 2008

Trading information dated Jan. 07, 2008


Trading information dated Jan. 07, 2008.xls

LBM - The ex-right date for getting shareholders' votes on investment projects and expanding factory

LBM - The ex-right date for getting shareholders' votes on investment projects and expanding factory

KBT - The auction date

KBT - The auction date

NAV- the ex-right date for bonus shares at the ratio of 10:4 and 2nd 2007 dividend with the ratio of 10:2

NAV- the ex-right date for bonus shares at the ratio of 10:4 and 2nd 2007 dividend with the ratio of 10:2

TMS - The record date for 2nd 2007 dividend at the ratio of 7%

TMS - The record date for 2nd 2007 dividend at the ratio of 7%

SPC.S, Ltd: Notice of Auction

SPC.S, Ltd: Notice of Auction




Issuer: SAIGON PLANT PROTECTION STATE LIMITED COMPANY

Short name: SPC.S, Ltd

Head office: Area 1, Nguyen Van Quy, Tan Thuan Dong Ward, Dist.7, HCMC

Chartered capital : VND81,000,000,000

Volume for the IPO : 2,140,000 shares

Stock type : common stock (Par value: VND10,000/share)

Beginning price : VND11,000 / share

Auction organizer : Hochiminh Stock Exchange

Time for registration and deposit: from 8:00am 01/08/2008 to 11:00am 01/18/2008.

Time for settlement: from 01/28/2008 to 02/22/2008

Time for repaying deposit: from 01/30/2008 to 02/04/2008

Time for submitting registration forms: no latter than 3:00pm 01/23/2008.

Auction date : 9:00am, Friday, January 25th, 2008

Auction venue : Hochiminh Stock Exchange

45-47 Ben Chuong Duong, District 1, HCMC

Place for registration and deposit:

Securities Company

Short name

Dong A Securities Company Ltd.

DAS

Viet Star Securities Corporation

VSSCorp.

Sai Gon Securities Inc.

SSI

Me Kong Securities Corporation

MSC

Ho Chi Minh City Securities Corporation (HSC)

HSC

Dai Viet Securities Incorporation

DVSC

VPBANK Securities Company Limited

VPBS

MHB Securities Corporation

MHBS

Viet Dragon Securities Corporation

VDSC

Cho Lon Securities Joint Stock Company

CLSC

Da Nang Securities Company

DNSC

Empower Securities Corporation

EPS

HOSE – new domain name

HOSE – new domain name
Source: VSE

From January 8th 2007, HOSE is put new website into test run with domain name as http://www.hsx.vn.

This website runs along with the current domain name as http://www.vse.org.vn.

For any contribution on the new interface, please send email to market_infor@vse.org.vn.

FOOCOSA – delay auction time

FOOCOSA – delay auction time
Source: VSE

Food Company of Ho Chi Minh City (FOOCOSA) has informed of delaying auction dated January 11th 2008 as follows:

There are some financial issues in equitized process of the company. The Ministry of Finance has suggested FOOCOSA to re-identify its financial value.

New auction time will be informed later. Investors who register the auction can withdraw deposit.

LICOGI 16 Joint Stock Company (LICOGI 16): INFORMATION ON AUCTION REGISTRATION

LICOGI 16 Joint Stock Company (LICOGI 16): INFORMATION ON AUCTION REGISTRATION




Pursuant to Decision No.115/QD-UBCK dated February 13th, 2007 by Chairman of the State Securities Commission on enacting the formal statute of shares auction in the Hochiminh Stock Exchange (HOSE), the HOSE announces the information on registering to participate in shares auction of the LICOGI 16 Joint Stock Company (LICOGI 16) as follows:

Total investors

626

investors

Individual investors:

- Local individual investors:

597

investors

- Foreign individual investors:

02

investors

Institutional investors:

- Local institutional investors:

22

investors

- Foreign institutional investors:

5

investors

Total registered volume

11,822,500

shares

Individual investors:

- Local individual investors:

6,293,500

shares

- Foreign individual investors:

20,000

shares

Institutional investors:

- Local institutional investors:

3,919,000

shares

- Foreign institutional investors:

1,590,000

shares

HAKIPACK - AUCTION RESULT

HAKIPACK - AUCTION RESULT
Hose announces AUCTION RESULT of Ha Tien Packaging Joint Venture Company (HAKIPACK) as follows:

VSE

File đính kèm:
20080104 - HAKIPACK - AUCTION RESULT - MN.xls

Bonds - Interest payment

Bonds - Interest payment
Source: VSE

HOSE announces the record date for interest payment of bonds in 2008 as follows:

VSE

File đính kèm:
20080104 - Bonds - Interest payment - MN.xls

Bonds - Interest payment

Bonds - Interest payment
Source: VSE

HOSE announces the record date for interest payment of bonds in 2008 as follows:

VSE

File đính kèm:
20080104 - Bonds - Interest payment - MN.xls

BID10107: Notice of the first trading day for bank bond listing

BID10107: Notice of the first trading day for bank bond listing
Source: VSE

HOSE announces the first trading day for corporate bonds as follows:

Name of Listed Company: Bank for Investment and Developmet of VietNam

- Address: 191 Ba Trieu, Hai Ba Trung Dist., Ha Noi city

Tel: (84-4) 2200422 Fax: (84-4) 2200399

Was allowed to list the following bond at HOSE by Decision No.184/QD-SGDHCM dated 12/21/2007:

Securities name: BIDV’s Long-term Bond – Issue No.01/2007

Securities type: Corporate bond

Securities symbol: BID10107

Face value: 100,000 VND

Total listing volume: 30,000,000 bonds

Total listing value: VND3,000,000,000,000

Issuing form: Book entry

Maturity : 5 years

Interest rate: 8.15%/ year (coupon bond)

Payment method: made annually on July 23rd and interest is not cumulated.

Issuing date: 07/23/2007

Due date: 07/23/2012

Effective listing date: 12/21/2007

Trading date: 01/17/2008

WASECO - AUCTION RESULT

Hose announces AUCTION RESULT of Water Supply & Sewerage Construction and Investment Company (WASECO) as follows:

VSE

File đính kèm:
20080103 - WASECO - AUCTION RESULT - MN.xls

VietNam: Security Market have always been an effective investment chanel.

Security Market have always been an effective investment chanel.
Enterpreted by vietnamfinance.blogspot.com
Source: Thanhnien


Thanh Nien had a talk with Mr. Lam Minh Chanh, a financial researcher and also Director General of Dai Viet securities Company (DVSC). We discuss the securities market.

In 2007, especially the fouth quarter, VNIndex development has been difficult to predict, what is your opinion about this?

Generally, The Securities Market is developing and profitable. If we started at the beginning of the year (VNIndex=741.27) and sold at the end of the year (VNIndex=727.02), we would get the profit of 25% per year.


Unpredictably, VNIndex, however, did not surge up but stayed abnormally in downtrend. It is because of CT03, of a large number of additional issuances, of the development of real estate, of the hesitation due to the personal income tax on securities trading, of the world markets. Besides, it is said that some organization and “big boy” force the market value to deteriorate for the purpose of buying at cheap prices.

In my opinion, the problem is that we try not to find out all the reasons but accept that. The value has been adjusted, which is normal. It is sooner or later. Anyway, it nearly got 1200 points on its way from 400 points in a quite short time. It is unreasonable to get higher points. It may be a crazy respectation. If it had happened, the market would have been in downward spiral for an extremely long time.

Studying on the Indicator of other markets at other countries, I have found that for the duration of 10-15 years, all the markets’s index got the growth which are in the range of 1.5-3 times compared to the average rates of the development of their economy. When an indicator’s development is about 50-300%/year (Thai Lan in 1990s as such), it will be controlled to return to the normal development rate for a long term. VNIndex was sharply surge, it must be controllable as we know.

So, how to avoid such a long term of downward spiral?

The state organizations are supposed to have a long-term prediction and view in market administration. The state administrators should have statutes to balance of the listed firms’ issuances between capital and debt, supervise trading of major shareholders, administrate the liquidity of OTC market, enact the statute of short sale for the purpose of valorization of the market. And one most importance is that the state should have plan on gaining knowledge of security investment of the citizens. Individual people must be aware of the market, of the investment strategies and of reasonable profit expectations

Can you tell clearlier about reasonable expectations?

Based on my research, most of individual investors were successful in using information and anticipating the right time to participate trading. In order to further succeed, they either prepare good knowledge or get a good consultant.


The fact is that most of the securities company have not paid much attention on counseling their customers while there are a great number of individual investors neither knowing suitable strategy of investment nor analizing the market.

-Absolutely. There are, however, some company doing well in this field, on the whole, many of them should support more to their customers.

How about VNIndex in short term and long term?

Based on the research result of our TA room, VNIndex is coming nearer 900 which is a technical support and an important psychological threshold. In next week, it wil be around the support 900, 875.46 and the resistances are 927 and 952.88. In order to have an short term of uptrend, it will have to exceed 927,00.

Basing on FA, the market value is at a reasonable point for medium and long term of investment. Finance, service, consumer goods… are good to invest into because their P/E is in the range of 24-27% which is much lower than it was before. They will give good profit for medium and long term of investment.

With the profit ratio 15-25%/year, the high liquidity, Vietnam Market have been a good chanel to invest, it will develope in the line with the progress of the Vietnam economy.