Vietnam market hits three-month low

Business News

Oct 9, 2008, 11:13 GMT

Hanoi - Vietnam's stock market fell slightly Thursday as local traders sold on declines in global markets, securities experts said. The VN-Index closed down 3.65 points, or 0.91 per cent, at 397.7, the lowest level in three months. Market volume, however, rose to 20.6 million shares, valued at 25 million dollars, up from 14.3 million shares and 4.5 million dollars on Wednesday. Some analysts said the volume reflected the potential for a bounce in the next few days. 'The stock market will rebound soon, as the current prices are quite attractive to buyers,' said Vo Quoc Khanh, director of investment and analysis at FPTS securities. 'Traders believe Vietnam's macro economy is getting better, pushing Vietnam's stock market up,' said Luu Tuong Bach, CEO of Song Ngan investments.

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