Stocks rally after State sells off dollars
Investor remained confident this morning following the Government's order to sell US dollars yesterday, which helped stabilise the country's monetary market.
The move helped the stock market rally strongly on both of the nation's exchanges.
On the HCM City Stock Exchange, the VN-Index climbed by 1.85 per cent to 457.27. Market volume also increased as more than 36.9 million shares worth VND941.4 billion (US$47 million) changed hands.
About 20 shares declined while more than 200 shares advanced in value.
Most blue chips rose and of the 10 largest capitalised stocks, Eximbank (EIB) and property developer Hoang Anh Gia Lai (HAG) closed unchanged.
Financial and bank shares were actively purchased, while HCM City Securities (HCM) and PetroVietnam Finance (PVF) rose to their ceiling price. Sacombank (STB) also rose by 1.92 per cent, Vietcombank (VCB) increased by 1.17 per cent, and Sai Gon Securities Inc (SSI) rose by 3.78 per cent, of which the latter was the most active share with 1.9 million shares exchanged.
On the Ha Noi Stock Exchange, the HNX-Index climbed by 2.82 per cent to close today's session at 112.8.
Trading volume rose to nearly 29.3 million shares, worth VND544.6 billion ($27.2 million).
Advancers also largely outnumbered losers by 266-33.
PetroVietnam Construction (PVX) and Kim Long Securities (KLS) rose by 3.33 per cent and 4.13 per cent, respectively. The stocks were the most heavily-traded shares nationwide. More than 3.75 million PVX shares and 3.67 million KLS shares were traded today.
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