Stocks rallied strongly on May 21 on both of the nation's stock exchanges, ending seven consecutive sessions of declines.
Over half of all codes roared to their ceiling prices.
On the HCM Stock Exchange, 29 of the top 30 shares by market
capitalisation and liquidity gained, with insurer Bao Viet Holdings
(BVH), PetroVietnam Finance (PVF), software giant FPT, Phu My
Fertilisers (DPM) and Saigon Securities Inc (SSI) all rising by the
maximum one-day advance of 5 percent.
Of this group
of shares, only commercial baker Kinh Do (KDC) dropped by 4.8 percent to
39,400 VND, its sixth sucessive session of declining after news that
the company had posted a net profit in the first quarter of just 361
million VND (17,000 USD).
The VN-Index jumped by 3
percent over the previous session on May 18, ending the day at above 448
points. The VN30 Index also rose by 2.82 percent to 518.86 points. The
volume of trades decreased by 4 percent from May 18's pace to 77.3
million shares even as the value of transactions rose by 3 percent to
1.26 trillion VND (60 million USD).
PetroVietnam Gas, a PetroVietnam Group affiliate, debuted on May 21
under the code GAS and at a reference price of 36,000 VND per share, its
total capitalisation of 68.2 trillion VND (3.25 billion USD)
constituting 9 percent of total market capitalisation and making it
instantly the second-leading share on the southern bourse.
GAS climbed 14 percent over its reference price in its first,
unregulated day of trading, concluding the seesion at 41,000 VND per
share on trades of 1.35 million shares.
On the Hanoi Stock Exchange, the HNX-Index also soared by 4.1 percent
to 76.84 points with 45.7 million shares traded. Value reached just
455.5 billion VND (21.7 million USD), a decline of 35.5 percent from May
Habubank (HBB), on trades of nearly 3.9
million shares, continued to be the most-active share nationwide,
closing up 5.8 percent to 5,500 VND per share.
Foreign investors continued to unload shares on the HCM City
market on May 21, concluding the same day as net sellers by a margin of
109.4 billion VND (3.2 million USD). In Hanoi , they were net buyers
of shares worth a net of 4.2 billion VND (200,000 USD).-VNA