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Steel stocks buoy rally
Stocks in the HCM City market continued rising this morning, in part due to the rallies of blue chips and steel stocks. The VN-Index added 1.2 per cent to close at 511.98 points, although losers outpaced gainers by 129-99.
Bao Viet Holdings (BVH) continued its climb, increasing its ceiling price by VND4,500, followed by Masan Group (MSN) and Vinamilk (VNM), each up VND4,000, and Hoang Quan Corp (HQC) up VND2,200.
Banking stocks also lifted with Sacombank (STB) and VietinBank (CTG) each up VND100 and Eximbank (EIB) up VND200.
Meanwhile steel stocks soared, with Viet Nam-Italy Steel (VIS), Tien Len Steel Co (TLH) and Phuc Tien Trade-Manufacture (PHT) reaching their ceiling prices.
The market trading volume was 41.2 million shares for a value of VND1.1 trillion (US$52.4 million).
In Ha Noi, the HNX-Index fell for the third day, this time by 0.23 per cent to 107.02 points.
The volume continued to be low at 21.6 million shares worth VND394.9 billion ($18.8 million).
Only Asia Commercial Bank (ACB) among the large caps gained, but only by VND200.
This morning, the Ha Noi Statistics Office announced the January inflation results for Ha Noi showed a 1.7 per cent month-on-month increase, which it blamed on harsh weather and increased consumption for the Tet holiday.
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