Stocks were led by bank and real estate companies on April 12 as they continued to soar on both national exchanges.
Following positive news on interest rate cuts and eased credit for thereal estate sector on April 11, many shares in these two sectors hittheir daily limit rise of 5 percent on April 12 , including HCM CityInfrastructure Investment (CII), Tan Tao Investment Industry (ITA), SongDa Urban&Industrial Zone Investment and Development (SJS), andKhang Dien House Trading (KDH).
Sacombank (STB) and SaiGon-Ha Noi Bank (SHB) also rose to their ceiling prices, while otherssuch as Eximbank (EIB), Vietinbank (CTG), Vietcombank (VCB), MilitaryBank (MBB), Asia Commercial Bank (ACB) and Habubank (HBB) all increasedfrom 1.7-4.1 percent.
HBB led trades nationwide with26.6 million shares changing hands while MBB was the most active stockin HCM City on a volume of 10.2 million shares.
"The market is being supported in both the short – and long-terms,"stock analysts at PetroVietnam Securities Inc wrote in a report, arguingthat the exclusion of the real estate sector from the lendingrestriction list, as well as the likelihood of decreased risk ratios onloans for the real estate and securities sectors, will encourage moneyto flow in these fields.
The State Bank of Vietnamis planning to lower the risk ratios of loans on real estate andsecurities investments from 250 percent to 150 percent, and increase thelending ratio on banks' capital mobilisation from 80 percent to 95percent.
On the HCM Stock Exchange, the VN-Index gained another 1.42 percent to close Aptil 12's session at 465.26 points.
Value of trades increased 13 percent over the previous session to 1.76trillion VND (83.8 million USD) on a total volume of 106.5 millionshares.
Twenty of the 30 leading shares by market valueand liquidity rallied, lifting the VN30 Index 1.83 percent to 537.28points.
On the Ha Noi Stock Exchange, the HNX-Index finished 1.33 percent higher at 78.54 points.
Both trading volume and value jumped 24 percent, totalling 122 millionshares, worth nearly 1.19 billion VND (56.6 million USD).
In HCM City , foreign investors continued to buy in, picking upshares worth 68 billion VND (3.2 million USD), but they remained netsellers in Hanoi by unloading 3.43 billion VND (163,000 USD) worthof shares.