Despite two modest declining sessions at mid-week which were regarded as a necessary correction, the VN-Index managed a gain of 3.53 percent on the week to close at 531.51 points.
The average daily value of trades reached nearly 2.4 trillion VND (125.7 million USD), an increase of over 48 percent from the previous week, while volumes also rose by 40 percent to a daily average of 55 million shares.
On the Hanoi Stock Exchange, the HNX-Index posted a more modest gain of 1.93 percent on the week, ending Mar.12 session at 173.45 point. Average daily trading value stalled at about 1 trillion VND (52.4 million USD), while average volumes edged up 1.4 percent to 31.8 million shares.
Shares posted a second straight week of gains on strengthening investor confidence in a glowing economic picture and the bright performance of listed firms, said FPT Securities Co analyst Nguyen Tuan.
“The State Bank of Vietnam’s decision to allow negotiated interest rates for medium – and long-term loans has continued to lift the stock market, enabling commercial banks to increase lending and provide more capital for stock investments,” Tuan said.
With daily trades reaching over 50 million shares per day, many analysts agreed that capital was again flowing back into the stock market. In addition to bank resuming lending for securities investment, brokerages were also allowing clients to make leveraged investments.
The market closing high on Mar. 12 would give impetus to a further advance early this coming week, HCM City Securities Co managing director Fiachra Mac Cana predicted in a report.
Overall performance on the week would hinge on the release of new inflation figures next week, said MacCana, predicting that, if inflation rose by less than 1 percent, the State Bank would further ease monetary policy and incite gains on the market.
After two weeks in which they ended up as net sellers, foreign investors concluded last week as net buyers on both bourses of a combined 342 billion VND (18 million USD) worth of shares. Dairy giant Vinamilk (VNM) was their most sought-after share, with foreign investors now holding some 46 percent of shares in the company, close to the statutory limit on foreign ownership./.
The average daily value of trades reached nearly 2.4 trillion VND (125.7 million USD), an increase of over 48 percent from the previous week, while volumes also rose by 40 percent to a daily average of 55 million shares.
On the Hanoi Stock Exchange, the HNX-Index posted a more modest gain of 1.93 percent on the week, ending Mar.12 session at 173.45 point. Average daily trading value stalled at about 1 trillion VND (52.4 million USD), while average volumes edged up 1.4 percent to 31.8 million shares.
Shares posted a second straight week of gains on strengthening investor confidence in a glowing economic picture and the bright performance of listed firms, said FPT Securities Co analyst Nguyen Tuan.
“The State Bank of Vietnam’s decision to allow negotiated interest rates for medium – and long-term loans has continued to lift the stock market, enabling commercial banks to increase lending and provide more capital for stock investments,” Tuan said.
With daily trades reaching over 50 million shares per day, many analysts agreed that capital was again flowing back into the stock market. In addition to bank resuming lending for securities investment, brokerages were also allowing clients to make leveraged investments.
The market closing high on Mar. 12 would give impetus to a further advance early this coming week, HCM City Securities Co managing director Fiachra Mac Cana predicted in a report.
Overall performance on the week would hinge on the release of new inflation figures next week, said MacCana, predicting that, if inflation rose by less than 1 percent, the State Bank would further ease monetary policy and incite gains on the market.
After two weeks in which they ended up as net sellers, foreign investors concluded last week as net buyers on both bourses of a combined 342 billion VND (18 million USD) worth of shares. Dairy giant Vinamilk (VNM) was their most sought-after share, with foreign investors now holding some 46 percent of shares in the company, close to the statutory limit on foreign ownership./.
