Business

Dow Jones rally lifts indexes

The VN-Index rose for the second day by 2.16 percent to close on Oct. 6's trade at 460.72 points, tracking Dow Jones' five-month high overnight.
The VN-Index rose for the second day by 2.16 percent to close on Oct. 6's trade at 460.72 points, tracking Dow Jones' five-month high overnight.

Trading volume was back in the black with 37.6 million shares changing hands, worth a combined 1.01 trillion VND (1.8 million USD).

Almost all stocks on the HCM Stock Exchange reached the highest increase in price [5 percent] for penny stocks, including Cuong Thuan IDICO Development & Investment (CTI), Tay Bac Mineral Investment (KTB) and Binh Thanh Import-Export Production and Trade (GIL).

Blue chips also faired well on the southern bourse, such as Bao Viet Holdings (BVH), steel producer Pomina (POM), Tan Tao Industrial Park (ITA) and property trader Vincom (VIC).

Bank stocks rose slightly, despite concerns about lending rates, which have not decreased due to inflationary pressure.  
Sacombank (STB), considered the most active stocks at 2.05 million shares, and Eximbank (EIB) rose 0.1 percent and Vietcombank (VCB) rose 0.6 percent, while VietinBank (CTG) closed unchanged.

The HNX-Index of the Hanoi Stock Exchange rose by 2.31 percent on Oct. 6, closing at 124.84 points on a total volume of 28.9 million shares.

The day's trading value fell to 639.3 billion VND (32.8 million USD), down 11.2 percent from Oct.5's session, with PetroVietnam Construction (PVX) seeing the highest volume of 3.38 million shares.

Blue chips on the northern bourse rallied, including Asia Commercial Bank (ACB), up 0.2 percent; Bao Viet Securities (BVS), 0.6 percent; Kim Long Securities (KLS), 0.8 percent; and PVX, 1.1 percent.

Foreigners on Oct. 6 bought in 4.9 million shares in both stock exchanges, for a total value of 175.2 billion VND (nearly 9 million USD)./.

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