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Stock market rebounds strongly
The stock market marked the new week with green colour dominating electronic boards in both floors.
The Ho Chi Minh Stock Exchange’s benchmark VN-Index rose 2.37 percent or 10.25 points to end at 454.8.
The floor witnessed over 15.7 million shares worth almost 635 billion VND changing hands. As many as 151 stocks enjoyed gains, including 140 hitting the ceiling level, while only seven stocks suffered losses.
All blue-chips such as the SSI of the Saigon Securities Company, STB of the Sacombank and FPT of the Financing and Promoting of Technology Company saw their prices skyrocket and purchase orders outnumbered sales.
The Hastc-Index of the Hanoi bourse won 1.7 points or 1.26 percent to 137.02 points. Trading volume was almost 3.2 million shares for turnovers of 113.5 billion VND.
A fresh fall in crude oil prices and sharp reduction in gold prices have prompted investors to turn their interest to the stock market which is on the trend of rally.
The market was also supported by the cut in lending interest rates by commercial banks and the Government’s toughness in inflation control.
These measures included the State Bank of Vietnam ’s permission given to commercial banks to buy back their shares and a suspension of new banks licensing.
All these are good news for the stock market, said experts.
VNA
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