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Money flowing to stock market   2009-03-24 - VietNamNet/NLD

Experts believe that the money has been flowing from the real estate, gold markets, and bank savings into the stock market these days. However, it remains unclear if the cash flow is stable, or if it is just temporary.


The week from March 16 to 20 was considered the most bustling week in the last many months. Several weeks ago, investors went to trading floors just to listen for the situation, which explained why the transaction value at that time was just VND 150 billion per trading session. Meanwhile, the transaction value last week increased to VND 450 billion per trading session, and the total transaction value was over VND 2.3 trillion in the last five trading sessions.


Andy Ho, Managing Director of VinaCapital Investment Fund Management Company, said that the stock market shows the health of the national economy, and that the recent trading sessions showed signs of positive tendencies.


With the cash volume flocking into the stock market increasing by two or three folds, a question has been raised that where the money comes from.


Financial experts believe that the money came from gold exports and bank savings. Besides, a lot of people who got money for the site clearance for Thu Thiem urban area project have also injected money in stocks.


Truong Duy Khiem, Director of Le Ngo Cat branch of ACB Securities Company, said that it is now the ‘right time for investors to sow, meaning that it is now the right time to make investments to ‘harvest crops’ later.


Dr. Bui Viet, General Director of the East Asia Bank Securities Company, said that if injecting money in real estate at this moment, investors do not hope to get the 100% profit in the time to come. However, they can do that with securities investments.


Analysts also said that nearly all bad news of the market has been exposed, while the bottom line of the VN Index is being searched. They believe that the VN Index, if it drops further, will not decrease by more than 20%.


The director of a securities company revealed that last week he sold a house and injected the money from the house sale in securities investments.

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