Foreign holdings hopes lift shares
Money continued to flow into the two national exchanges on June 6,
strongly supported by investors’ expectation that the Government will
raise foreign holdings in domestic companies, helping both stock indices
close the session in the green.
Money continued to flow into the two national exchanges on June 6,
strongly supported by investors’ expectation that the Government will
raise foreign holdings in domestic companies, helping both stock indices
close the session in the green.
The State Securities Commission next month would propose to the Government to increase the ceiling ownership for foreign investors in listed companies, the commission's chairman Vu Bang told Bloomberg in an interview.
Currently, the foreign room in Vietnamese listed companies is capped at 49 percent (excluding finance, insurance and banking sectors in which foreign holdings are limited at just 30 percent).
On the Ho Chi Minh Stock Exchange, the VN-Index closed up 1.22 percent on 520.90 points, while the VN30 tracking the top 30 shares by market capitalisation and liquidity was also up nearly 1 percent at 582.92 points.
Market volume and value increased 30 percent from the previous session, totalling over 72.2 million shares, worth 1.22 trillion VND (about (58 million USD).
Tan Tao Investment Industry Corp (ITA) continued to lead trades on the southern market with nearly 5.4 million shares changing hands at a value of 7,800 VND a share, up 4 percent in value from a day earlier.
On the Hanoi Stock Exchange, the HNX-Index also edged 1.22 percent up at 65.33 points on a market value of 349.2 billion VND (16.6 million USD).
Sai Gon-Hanoi Bank (SHB) was again the most active code on trades of over 6.4 million shares, growing 1.4 percent to 7,400 VND a share.
Stock analysts are confident with the market uptrend in the medium term, but in the short term they are still cautious about a likelihood of several corrections, especially when the indices approach their technical barriers.
Foreign investors continued to be net sellers on both exchanges, its four net selling sessions in a row this week. They unloaded shares worth a combined 71.22 billion VND (3.4 million USD) on both exchanges.-VNA
The State Securities Commission next month would propose to the Government to increase the ceiling ownership for foreign investors in listed companies, the commission's chairman Vu Bang told Bloomberg in an interview.
Currently, the foreign room in Vietnamese listed companies is capped at 49 percent (excluding finance, insurance and banking sectors in which foreign holdings are limited at just 30 percent).
On the Ho Chi Minh Stock Exchange, the VN-Index closed up 1.22 percent on 520.90 points, while the VN30 tracking the top 30 shares by market capitalisation and liquidity was also up nearly 1 percent at 582.92 points.
Market volume and value increased 30 percent from the previous session, totalling over 72.2 million shares, worth 1.22 trillion VND (about (58 million USD).
Tan Tao Investment Industry Corp (ITA) continued to lead trades on the southern market with nearly 5.4 million shares changing hands at a value of 7,800 VND a share, up 4 percent in value from a day earlier.
On the Hanoi Stock Exchange, the HNX-Index also edged 1.22 percent up at 65.33 points on a market value of 349.2 billion VND (16.6 million USD).
Sai Gon-Hanoi Bank (SHB) was again the most active code on trades of over 6.4 million shares, growing 1.4 percent to 7,400 VND a share.
Stock analysts are confident with the market uptrend in the medium term, but in the short term they are still cautious about a likelihood of several corrections, especially when the indices approach their technical barriers.
Foreign investors continued to be net sellers on both exchanges, its four net selling sessions in a row this week. They unloaded shares worth a combined 71.22 billion VND (3.4 million USD) on both exchanges.-VNA