|
State Bank support fuels VN-Index
A series of the State Bank’s supportive measures fuelled investors to buy shares en masse on Oct. 21, contributing to the VN-Index’s rally.
On Oct. 20, the State Bank of Vietnam decided to cut the prime interest rate and pay off T-bills worth 20.3 trillion VND (1.22 billion USD) issued to local banks.
These actions aimed to increase liquidity for local commercial banks, also helping the VN-Index regain 2.46 percent to hit 379.94 on Oct. 21 after sliding to 370.80 points the previous day.
Almost all blue chip stocks bounced back significantly, including FPT of Financing and Promoting Technology, PVD of PetroVietnam Drilling and DHG of Hau Giang Pharmaceuticals, which shored up the VN-Index’s rally.
Thanks to these positive changes, the market’s trading volume stayed at a height of 15.16 million shares, worth 462.22 billion VND (27.51 million USD).
These figures represented an increase of 43.02 percent in volume and 48.48 percent in value from Oct. 20’s data.
In the north, the HASTC-Index regained 3.01 percent, rising to 126.81 after losing 1.77 percent the day before.
The centre saw 8.13 million shares change hands with a total turnover of 232.75 billion VND (13.85 million USD).
VNA
|
