New stimulus plan buoys stock market
While the stock market in general reacted positively on May 15 to a new
30 trillion VND (1.4 billion USD) real estate support package, shares of
companies in the sector saw little change.
While the stock market in general reacted positively on May 15 to a new
30 trillion VND (1.4 billion USD) real estate support package, shares of
companies in the sector saw little change.
The package was designed to go to social housing and low-cost projects, not listed property developers.
As a consequence, shares of PetroVietnam Construction (PVX), Hoang Quan (HQC), Licogi 16 (LCG) and Dic Corp (DIG) increased only slightly.
Shares on the Ho Chi Minh Stock Exchange managed to rally, with the benchmark VN-Index gaining 0.44 percent to close at 485.97 points.
Trading value and volume eased around 14 percent compared to the previous day's session, reaching 661.4 billion VND (31.4 million USD) and 37.5 million shares.
The VN30, representing the southern bourse's top shares, added 0.65 percent to close at 551.81 points. Over two-thirds of these blue chips closed in the green, especially rubber company Casumina (CSM), Phu My Fertiliser (DPM) and steelmaker Hoa Phat ( HPG ), which posted the highest increases of 2.3-4.1 percent.
Meanwhile, the HNX-Index on the Hanoi Stock Exchange advanced by more than one percent, fetching 60.50 points as gainers outnumbered losers by 115-69.
Trading, however, was sluggish with nearly 24 million shares worth just 184.8 billion VND (8.8 million USD) changing hands.
The HNX30, composed of the bourse's leading shares in terms of capitalisation and liquidity, also rose over one percent to 113.51 points.-VNA
The package was designed to go to social housing and low-cost projects, not listed property developers.
As a consequence, shares of PetroVietnam Construction (PVX), Hoang Quan (HQC), Licogi 16 (LCG) and Dic Corp (DIG) increased only slightly.
Shares on the Ho Chi Minh Stock Exchange managed to rally, with the benchmark VN-Index gaining 0.44 percent to close at 485.97 points.
Trading value and volume eased around 14 percent compared to the previous day's session, reaching 661.4 billion VND (31.4 million USD) and 37.5 million shares.
The VN30, representing the southern bourse's top shares, added 0.65 percent to close at 551.81 points. Over two-thirds of these blue chips closed in the green, especially rubber company Casumina (CSM), Phu My Fertiliser (DPM) and steelmaker Hoa Phat ( HPG ), which posted the highest increases of 2.3-4.1 percent.
Meanwhile, the HNX-Index on the Hanoi Stock Exchange advanced by more than one percent, fetching 60.50 points as gainers outnumbered losers by 115-69.
Trading, however, was sluggish with nearly 24 million shares worth just 184.8 billion VND (8.8 million USD) changing hands.
The HNX30, composed of the bourse's leading shares in terms of capitalisation and liquidity, also rose over one percent to 113.51 points.-VNA
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