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Lack of liquidity on HoSE turning-off investors: State media

A low level of liquidity on the Ho Chi Minh City Stock Exchange (HoSE) is making investors “increasingly concerned and hesitant in making investment decisions”, Vietnam News is reporting.

Key points;

  • Average total value of trades made in a day is at VND 13 trillion (US$533 million);
  • This is down from VND 16.56 trillion (US$679 million) in November.
  • Gold prices are up and this may signal a shift from stocks to gold;
  • The VN-Index’s inability to stay above 1,100 points is making investors pessimistic;
  • Recent withdrawals may be linked to holidays at the end of the year; and
  • Sellers are not motivated and may be waiting for clearer signals of an economic recovery.

Note that foreign investors have withdrawn over US$1 billion from the HoSE so far this year.

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