Fed fuels VN stocks resurgence

Vietnamese stocks rallied on September 19, following the US Federal Reserve's surprising decision to continue its 85 billion USD per month stimulus.

Vietnamese stocks rallied on September 19, following the US FederalReserve's surprising decision to continue its 85 billion USD per monthstimulus.

On the Ho Chi Minh City Stock Exchange, the VN-Index rebounded by 0.4 percent to 476.09 points.

Trading value, however, decreased slightly on September 18’s level toreach 629.1 billion VND (29.6 million USD) as around 35.6 million shareschanged hands.

Among the 30 largest stocks incapitalisation and liquidity, only three retreated, including Eximbank(EIB), PetroVietnam Finance (PVF) and Sacombank (STB). PVF, which hasbeen closing at the floor price for seven successive sessions, lookedpoised for the same result at close of trade on September 16.

The VN30 also gained 0.4 percent to 533.83 points.

On the Hanoi Stock Exchange, the HNX-Index closed at 58.99 points, with a 0.44 percent rise.

The value of trades on the bourse remained virtually the same asSeptember 18’s figure, totalling 174.9 billion VND (8.2 million USD) on avolume of nearly 28.2 million shares.

The HNX30, representing the performance of Hanoi 's top 30 shares, added 0.85 percent to 107.94 points.

Meanwhile, foreign investors on September 19 shifted to net buyers inHCM City by a margin of 10.35 billion VND (488,200 USD) but were netsellers in Hanoi by 8.8 billion VND (415,000 USD).

The volume of foreign transactions accounted for less than 15 percent of total market volume.

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