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VN-Index rides new wave of global optimism
The stock market posted its sixth consecutive day of gains on Nov. 5, with the VN-Index ended the day up 16.39 points to close at 377.83.
The HCM Stock Exchange saw a total of 156 gainers and seven losers, with four shares remaining unchanged. A total of 15.5 million shares and fund certificates changed hands, worth a total of 482.89 billion VND (28.74 million USD).
Analysts continued to point to the State Bank of Vietnam ’s cut of the prime rate on November 3, as well as positive investor sentiment following Barack Obama’s victory in the US presidential election..
The 12-percent prime rate would likely take three to six months to be reflected in the business results of listed companies, noted Hoang Xuan Quyen, director of analysis for Tan Viet Securities. Low share prices, interest rate cuts and more stable world stock markets were all psychological factors that have had a positive impact on the Vietnam stock market over the past few sessions, he added.
In Hanoi , the HASTC-Index also posted impressive gains on the day, with 146 advancing and only eight declining. Asia Commercial Bank (ACB) was the most active share on the northern bourse, with nearly 1.9 million shares changing hands.
VNA
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