Better global economic prospects propelled the VN-Index up to 433.47 points on July 16, a 1.5 percent increase from July 15 standings.

Daily value returned to 1.05 trillion VND (59 million USD) on the trade of 28.04 million shares, after dropping under the 1 trillion VND level in July 15 session.

Sacombank (STB) remained the leader with 4.5 million shares, making up 15.5 percent of market volume.
VietinBank (CTG) failed to buoy up the index on its first day as CTG closed off at 40,100, down from the offering price of 50,000 VND. However, heavy trading of the stock contributed to promoting market liquidity, and it was Sacombank’s runner-up with 2.4 million shares.

CTG saw a lot of action thanks to VietinBank’s prestige, but the listing of the 12.1 million shares could not drive the market, said To Hai, general director of Ban Viet Securities.

Hai said that investors, who purchased this share from the IPO could make a profit, although the share’s price declined within the trading band of 20 percent on the first listing day.

HCX-Index added 2.06 percent to hit 145.85 points at closing on July 16.

Daily trade rose to 12.7 million shares, up from 11.4 million of Wednesday, making a turnover of 390.1 billion VND (21.9 million USD). The most active code was Kim Long Securities (KLS) with 2.3 million.

Nguyen Hoang Hai, a securities analyst for a HCM City-based brokerage house, said that positive news from the US market helped to decrease the wariness about the economy, and confidence was getting stronger with the faster than forecast growth of China ’s economy.

“However, local investors seem hesitant to believe in the solidity of these movements,” said Hai.

Foreign investors continued to be net buyers in both stock exchanges, with a combined volume of 926,400 shares. The sector favoured most STB, BVH and HPG in HCM City , and Kinh Bac Urban Development (KBC), PetroVietnam (PVS) and Sai Gon-Hanoi Bank (SHB) in Hanoi .

In the unlisted market, the UPCoM-Index closed up the second day to 73.29 points after adding 1.03 percent. A moderate 277,746 shares changed hands, totaling 3.8 billion VND (213.5 million USD). SME Securities (SME) was the heaviest-traded with 118,600 shares./.