VCSC Daily - Slow GDP growth weighs on market

Market Commentary

27 Sep 2012

Our view: According to the General Statistics Office (GSO), the economy grew 4.73% in the first nine months, slower than the government’s expected pace of 5-5.5%. The slower GDP growth figure encouraged bears to increase selling pressure on fears that Q3 earning results will not be rosy. At the close, VNI declined 0.45% to 393.34, dragged down by GAS, HAG and EIB with some of the loss pared by advances in FPT and VNM.

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