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Stock market recovers impressively, all stocks on HOSE gain
Efforts to stimulate demands by the State Securities Commission had positive impacts to the stock market on January 16. All 144 stocks listed on the Ho Chi Minh City Stock Exchange gained. The VN-Index increased by 4.6% while the HASTC-Index was also up 7.46%.
The gaining session yesterday helped gained back investors’ confidence. Earlier, in the first ten trading sessions of the year, the VN-Index lost a total of 118.19 points to close at 808.83 on January 15.
In order to stimulate demands, the SSC issued various measures.The SSC announced that the State Bank of Vietnam will continue to buy in foreign currencies from commercial banks. It also pledged to seek change to the Instruction 03 which limits lending by commercial banks to securities investment to under 3% of the total account outstanding. The SSC also requested listed companies, public companies to consider delays of their public offerings so as to ease the over-supply in the market.
Ending the trading session, the VN-Index closed at 846.07, up 37.24 points while the HASTC-index gained 19.83 points, closing at 285.63.
A majority of stocks listed on the HOSE were matched at their ceiling prices. Trading volume was 9.67 million shares worth VND 808 billion.
In the northern bourse, only five stocks dropped against 112 stocks increased. Nearly 40 of these reached their ceiling prices while many others experienced an over 8% increase. Investors bought a total of 3.5 million shares listed on the HASTC worth VND 293 billion.
Foreign investors increased selling while reduced their purchasing on January 16 session. Specifically, on the HOSE, they bought nearly 498,000 shares of 33 stocks worth VND 44.6 billion while sold 2.47 million shares of 53 stocks worth VND 226 billion. In the HASTC, they bought only 22,400 shares worth VND 1.6 billion while sold 314,000 shares worth VND 33 billion
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