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Index charges back above 300-points
The VN-Index added to its strong performance last Friday by breaking back above the 300-point level on Monday, adding 2.92 per cent on the day to close at 308.28.
The market saw 9.85 million shares changing hands, of which market-leader Sacombank (STB) alone accounted for 1.91 million.
Volume in other blue chips trailed, with Sai Gon Securities Inc (SSI) seeing 643,720 shares traded; FPT, 516,920 shares; and Hoa Phat Group (HPG), 440,060 shares.
Trading on the HCM City exchange saw a total turnover of VND243.53 billion (US$14.5 million).
"The ups and downs of the market still depend on the investor psychology," commented Vu Duc Nghia, an analyst with Bien Viet Securities.
Nghia also noted that the market was tracking Asian shares generally, which continued to climb yesterday on hopes of a bailout for the US auto industry.
An FPT Securities analyst who asked to remain anonymous said that Government efforts to boost the economy had begun to show effectiveness and might begin now to have positive impacts on the stock market.
An economic stimulus package recently announced by Deputy Prime Minister Nguyen Sinh Hung that could reach $6 billion could help sustain the market above 300 points through the end of the week, the analyst said.
In Ha Noi, the HASTC-Index also had a strong day, jumping 4.15 per cent to close at 110.30, with 9.38 million shares traded.
The total value of the day's trades - at VND233.61 billion ($13.9 million) - nearly matched the value reached by the larger HCM City Stock Exchange yesterday.
Asia Commercial Bank (ACB) was the most active stock, with 2 million shares traded, followed by contractor Vinaconex Group (VCG), at 959,000, and Kim Long Securities (KLS), at 877,800.
Viet Nam News
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