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Shares rally in north and south
The Vietnamese stock market extended its rally during yesterday's session.
After rumours that the deployment of the national asset managing company would probably not take place until the third quarter at the earliest, the confirmation that it would be established later this month calmed investors' nerves.
In addition, large companies have announced their operational results for the first quarter of this year. Although profits declined compared with the same period last year, there were no losses in the reports.
However, trading in the coming days might be risky, according to Bao Viet Securities Co analyst Pham Tien Dung. "As the benchmark indices are approaching their resistance levels, the pressure of selling at high prices will be large," he said.
Meanwhile, liquidity remained at an average level.
On the HCM City Stock Exchange, the VN-Index put on 0.9 per cent, reaching 490.34 points.
Gainers outnumbered losers by 120-73.
Market value improved 36 per cent from Wednesday to VND899.7 billion (US$42.8 million) after 49.8 million shares were exchanged.
Among the 30 largest shares led by capitalisation and liquidity, only private equity firm Masan (MSN) and property developer Vingroup (VIC) retreated. Meanwhile, 18 blue chips advanced. Notably, logistic company Gemadept (GMD) hit its ceiling price and Da Nang Rubber (DRC), PetroVietnam Low-pressure Gas Distribution (PGD) and Vietcombank (VCB) gained between 3.3-5.4 per cent.
The VN30 added 0.76 per cent to 556.01 points.
On the Ha Noi Stock Exchange, the HNX-Index closed at 60.94 points, a 0.73 per cent increase.
Trading value reached VND193.9 billion ($9.2 million), crawling 5 per cent over the previous day's figure, on the volume of nearly 25.2 million shares.
The HNX30, tracking the northern bourse's top 30 shares, rose 0.68 per cent to 114.28 points.
Foreign investors were net buyers on both bourses yesterday, picking a combined margin of VND54.6 billion ($2.6 million).
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