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Shares soar on both exchanges on positive news
Shares rose strongly this morning on both stock exchanges, with the HNX-Index on the Ha Noi bourse posting a gain of over 4 per cent to close at 76.75 points, while the VN-Index on the HCM City bourse was also up 1.8 per cent to finish at nearly 444 points.
In HCM City, advancers outnumbered decliners by five-to-one, of which 75 codes hit the daily limit of a 5 per cent rise including many large-cap stocks such as insurer Bao Viet Holdings (BVH), PetroVietnam Finance (PVF), Refrigeration Electrical Engineering (REE) and Saigon Securities Inc (SSI).
SSI was also the most active stock with 2.65 million shares changing hands.
Most of the 10 largest shares led by market capitalisation rose, except food producer Masan Group (MSN), Sacombank (STB) and property developer Vincom (VIC), that all closed unchanged.
The market value was essentially unchanged compared with yesterday, totalling VND704.4 billion (US$33.9 million) and comprising 44 million shares.
In Ha Noi, gainers were also more than five times higher than losers, with half soaring to their ceiling of around 7 per cent. Among them was Kim Long Securities (KLS), which with over 7 million shares changing hands, was still the most heavily-traded stock nationwide.
The value of today's trades jumping 35 per cent to nearly VND697.6billion ($33.5 million) on a volume of almost 64 million shares.
Analysts said positive information on the monetary market helped improve investor confidence, driving them to invest in cheap shares ahead of a new rising wave.
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