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Indices rise as shares soar
Nearly 55 per cent of shares increased on both national exchanges this morning, bringing to a halt the prolonged downturn.
On the HCM Stock Exchange, the VN-Index rose 0.43 per cent after eight consecutive sessions of decline, closing today at over 366 points. Advancers largely overwhelmed decliners by 180-50.
Heavy purchases by investors helped boost trading volume by 61 per cent and the value of trades by 41 per cent with up to 65.3 million shares, valued at VND972.2 billion (US$46.3 million), exchanged.
Most blue chips posted gains, with property developer Hoang Anh Gia Lai (HAG), Vietcombank (VCB) and PetroVietnam Finance (PVF) hitting their daily limit of 5 per cent while others were up from 0.7-3.7 per cent.
Among the 10 leading shares by capitalisation, only food producer Masan Group (MSN) dropped 4.7 per cent and real estate developer Vincom (VIC) closed down 2 per cent after three sessions of rising to their ceiling prices.
Financial Ocean Group (OGC) was the most active code today on the southern bourse with nearly 2.3 million shares changing hands, also hitting the ceiling price of a 5 per cent rise to VND8,900 a share.
On the Ha Noi Stock Exchange, the HNX-Index finished at 59.83 points, a jump of 1.58 per cent over yesterday, with gainers tripling losers.
Value of trades decreased 18 per cent, however, to about VND254.6 billion ($12.1 million) on a volume of 29.7 million shares.
Shares of securities companies were still the most heavily traded codes in Ha Noi, with VNDirect (VND) and Kim Long (KLS) seeing the most trades of 3.22 million shares and 2.83 million changing hands, respectively. Both VND and KLS closed up 3.3 per cent at around VND9,500 a share.
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