Eased trading rules tickle market
Stocks continued to surge on June 2, with shares across-the-board on both national exchanges hitting their ceiling prices.
Stocks continued to surge on June 2, with shares across-the-board on both national exchanges hitting their ceiling prices.
Investor confidence improved strongly on news that the Ministry of Finance had issued a long-awaited circular allowing margin trading, multiple brokerage accounts and intra-day trading, effective August 1.
The value of trade rose 17 percent over June 1's session to 681.3 billion VND (33 million USD), with over 34.3 million shares changing hands. Gainers dominated the board, with 65 percent of codes reaching their maximum daily gain of 5 percent.
Seven of the 10 leading shares by capitalisation hit their ceiling prices for a second day, including insurer Bao Viet Holdings (BVH), Vietinbank (CTG), software provider FPT, real estate developers Hoang Anh Gia Lai (HAG) and Vincom (VIC), food products conglomerate Masan Group (MSN), and PetroVietnam Finance (PVF).
Sacombank (STB) became the most-active share on the southern bourse, with 1.87 million shares traded, before closing up 1.7 percent to 12,000 VND per share.
On the Hanoi Stock Exchange, the HNX-Index surged by another 3.23 percent to close at 74.05 points. Value rose by 5 percent to 300.4 billion VND (14.6 million USD) on a volume of 28 million shares.
Gainers outnumbered decliners by 284-46, with 201 codes hitting their ceiling prices.
Securities shares posted the day's strongest gains, with shares of Bao Viet Securities (BVS), Au Viet Securities (AVS), VNDirect Securities (VND) and Kim Long Securities (KLS) all soaring. KLS were the most-active share on the northern bourse, with nearly two million traded.
Foreign investors continued to be net buyers in HCM City, picking up a net of 27 billion VND (1.3 million USD) worth of shares, but they were net sellers in Hanoi of a net of 6.8 billion VND (330,600 USD) worth of shares./.
Investor confidence improved strongly on news that the Ministry of Finance had issued a long-awaited circular allowing margin trading, multiple brokerage accounts and intra-day trading, effective August 1.
The value of trade rose 17 percent over June 1's session to 681.3 billion VND (33 million USD), with over 34.3 million shares changing hands. Gainers dominated the board, with 65 percent of codes reaching their maximum daily gain of 5 percent.
Seven of the 10 leading shares by capitalisation hit their ceiling prices for a second day, including insurer Bao Viet Holdings (BVH), Vietinbank (CTG), software provider FPT, real estate developers Hoang Anh Gia Lai (HAG) and Vincom (VIC), food products conglomerate Masan Group (MSN), and PetroVietnam Finance (PVF).
Sacombank (STB) became the most-active share on the southern bourse, with 1.87 million shares traded, before closing up 1.7 percent to 12,000 VND per share.
On the Hanoi Stock Exchange, the HNX-Index surged by another 3.23 percent to close at 74.05 points. Value rose by 5 percent to 300.4 billion VND (14.6 million USD) on a volume of 28 million shares.
Gainers outnumbered decliners by 284-46, with 201 codes hitting their ceiling prices.
Securities shares posted the day's strongest gains, with shares of Bao Viet Securities (BVS), Au Viet Securities (AVS), VNDirect Securities (VND) and Kim Long Securities (KLS) all soaring. KLS were the most-active share on the northern bourse, with nearly two million traded.
Foreign investors continued to be net buyers in HCM City, picking up a net of 27 billion VND (1.3 million USD) worth of shares, but they were net sellers in Hanoi of a net of 6.8 billion VND (330,600 USD) worth of shares./.
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