The benchmark VN-Index on the HCM Stock Exchange passed 400 points onFeb. 2, closing at 401.61, a 2.8 percent rise over the previous tradingsession.
Blue chips continued to lift the Index as six of the 10leading shares by capitalisation hit their ceiling prices. Other stocksin the future benchmark index VN-30 also rose sharply, with many hittingthe daily increase limit of 5 percent, except Sacombank (STB) whichlost 0.5 percent to close at 18,900 VND (0.9 USD).
There were four times more gainers than losers.
Tradingvalue on the southern bourse rose 8 percent over the previous sessionto 715.3 billion VND (34 million USD), while the volume of tradesincreased 12 percent to 44 million shares.
"Optimism (but withcaution) is replacing the pessimism which prevailed at the end of lastyear. This is shown with the continued growth of many shares, pullingthe indices on both floors up quickly," said Hanoi-based independentanalyst Pham Viet Hung.
Hung said many investors believe interestrates will fall in the second quarter, and while the gold and forexmarkets continues to be closely managed, along with the quiet realestate market, money will flow strongly back into the stock market.
"However,market value remains low on both exchanges which can be a barrier toconfirming a sustainable uptrend," Hung cautioned.
On the HanoiStock Exchange, the HNX-Index edged up nearly 3.5 percent to finish at62.57 points with 253 out of 393 codes posting gains.
Marketvalue climbed 13.4 percent over Feb, 1's session, totalling 270.4billion VND (12.87 million USD) on a volume of 32.7 million shares.
KimLong Securities Co (KLS) was the most active stock with around 4.3million shares changing hands. It reached its ceiling price of 9,600 VNDper share.
Foreign investors continued to pour money intoVietnam's stock market as they picked up a combined net buy of 30.7billion VND (1.5 million USD) worth of shares on both markets on Feb.2./.
Blue chips continued to lift the Index as six of the 10leading shares by capitalisation hit their ceiling prices. Other stocksin the future benchmark index VN-30 also rose sharply, with many hittingthe daily increase limit of 5 percent, except Sacombank (STB) whichlost 0.5 percent to close at 18,900 VND (0.9 USD).
There were four times more gainers than losers.
Tradingvalue on the southern bourse rose 8 percent over the previous sessionto 715.3 billion VND (34 million USD), while the volume of tradesincreased 12 percent to 44 million shares.
"Optimism (but withcaution) is replacing the pessimism which prevailed at the end of lastyear. This is shown with the continued growth of many shares, pullingthe indices on both floors up quickly," said Hanoi-based independentanalyst Pham Viet Hung.
Hung said many investors believe interestrates will fall in the second quarter, and while the gold and forexmarkets continues to be closely managed, along with the quiet realestate market, money will flow strongly back into the stock market.
"However,market value remains low on both exchanges which can be a barrier toconfirming a sustainable uptrend," Hung cautioned.
On the HanoiStock Exchange, the HNX-Index edged up nearly 3.5 percent to finish at62.57 points with 253 out of 393 codes posting gains.
Marketvalue climbed 13.4 percent over Feb, 1's session, totalling 270.4billion VND (12.87 million USD) on a volume of 32.7 million shares.
KimLong Securities Co (KLS) was the most active stock with around 4.3million shares changing hands. It reached its ceiling price of 9,600 VNDper share.
Foreign investors continued to pour money intoVietnam's stock market as they picked up a combined net buy of 30.7billion VND (1.5 million USD) worth of shares on both markets on Feb.2./.
