Nearly 300 stocks soared to their ceiling prices on Dec. 5 in surprising rallies on the nation's stock exchanges.
"The market has seen its highest growth in the past three months," saidStoxPlus Financial Media Co's analyst Le Huu Quan. "Investor psychologyfound relief in the expectation of new Government measures to get banksto reduce their interest rates."
The domestic marketmanagement team has also projected that inflation in December could riseat a one-month rate of 0.5-0.6 percent.
"If Decemberinflation does not exceed this limit, the Goverment will achieve itstarget for the year", said ACB Securities Co analyst Cao Tan Phat.
On the HCM Stock Exchange on Dec. 5, the VN-Index rose by 1.9 percentto reach 391.19 points, with 220 out of 290 listed codes posting gains.
The value of trades increased by 18 percent compared to the previoussession on Dec. 2, totalling 494.4 billion VND (23.2 million USD) on avolume of nearly 35 million shares.
Many blue chips saw their prices soar to the top of the allowed dailytrading range, including insurer Bao Viet Holdings (BVH); real estatedevelopers Hoang Anh Gia Lai (HAG), Vincom (VIC) and Hoang Quan (HQC);steelmaker Hoa Phat (HPG); financial conglomerate Ocean Group (OGC);PetroVietnam Finance (PVF); industrial park developer Tan Tao (ITA); andSaigon Securities Inc (SSI). SSI was the most-active share, with around1.85 million shares changing hands.
Of the 10 leading shares by capitalisation, only food processor Masan (MSN) and Sacombank (STB) lost value.
On the Hanoi Stock Exchange, the HNX-Index closed at 63.47 points, 2.9percent higher than Friday's close. Both value and volume improved byover 80 percent, totalling 391.3 billion VND (18.4 million USD) on avolume of over 43 million shares. Advancers outnumbered decliners by251-48.
With more than 6.4 million shares traded, Kim LongSecurities Co (KLS) became the most-active share nationwide and hit itsceiling price on the day of 10,800 VND per share.
Despiterenewed optimism among domestic investors, foreign investors continuedto sell off shares on both exchanges on Dec. 5, unloading a combined netof 47.7 billion VND (2.24 million USD) worth of share – 63.5 percentmore than during Dec. 2's session./.
"The market has seen its highest growth in the past three months," saidStoxPlus Financial Media Co's analyst Le Huu Quan. "Investor psychologyfound relief in the expectation of new Government measures to get banksto reduce their interest rates."
The domestic marketmanagement team has also projected that inflation in December could riseat a one-month rate of 0.5-0.6 percent.
"If Decemberinflation does not exceed this limit, the Goverment will achieve itstarget for the year", said ACB Securities Co analyst Cao Tan Phat.
On the HCM Stock Exchange on Dec. 5, the VN-Index rose by 1.9 percentto reach 391.19 points, with 220 out of 290 listed codes posting gains.
The value of trades increased by 18 percent compared to the previoussession on Dec. 2, totalling 494.4 billion VND (23.2 million USD) on avolume of nearly 35 million shares.
Many blue chips saw their prices soar to the top of the allowed dailytrading range, including insurer Bao Viet Holdings (BVH); real estatedevelopers Hoang Anh Gia Lai (HAG), Vincom (VIC) and Hoang Quan (HQC);steelmaker Hoa Phat (HPG); financial conglomerate Ocean Group (OGC);PetroVietnam Finance (PVF); industrial park developer Tan Tao (ITA); andSaigon Securities Inc (SSI). SSI was the most-active share, with around1.85 million shares changing hands.
Of the 10 leading shares by capitalisation, only food processor Masan (MSN) and Sacombank (STB) lost value.
On the Hanoi Stock Exchange, the HNX-Index closed at 63.47 points, 2.9percent higher than Friday's close. Both value and volume improved byover 80 percent, totalling 391.3 billion VND (18.4 million USD) on avolume of over 43 million shares. Advancers outnumbered decliners by251-48.
With more than 6.4 million shares traded, Kim LongSecurities Co (KLS) became the most-active share nationwide and hit itsceiling price on the day of 10,800 VND per share.
Despiterenewed optimism among domestic investors, foreign investors continuedto sell off shares on both exchanges on Dec. 5, unloading a combined netof 47.7 billion VND (2.24 million USD) worth of share – 63.5 percentmore than during Dec. 2's session./.
