Investors are pessimistic in their discussions about this year’s stock market performance; most expect the VN Index to not exceed 800 points by the end of the year.
Thoi bao Kinh te Vietnam has conducted an online survey on how its readers think the stock market will perform in 2008. The survey showed that most do not think the stock market will recover this year. Seven scenarios were polled; most of those asked (24.3%) think the VN Index will be below 800 points by the end of this year, while few readers chose the other six. The gloomy final results in 2007 and the continuing slump into 2008 have resulted in investors wariness.In fact, investors are concerned with a number of adverse conditions - the stock market’s lackluster start to this year (under 800 points) and a number of upcoming IPOs that threaten a serious superfluous supply of securities. Moreover, the central bank has decided to limit banks’ securities lending to below 20% of total chartered capital; also, the economic slump in the US has made foreign investors hesitant about further capital injection. The most optimistic readers (19.9%) forecast that the VN Index may reach 1,000-1,100 points by the end of this year, a modest outcome when compared to last year’s high of 1,170.67 on March 12, 2007. While most readers do not expect a prosperous VN Index in 2008, 8.76% said they expect it to break the 1,300 point threshold.
Source: Thời báo Kinh tế Việt Nam
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