Market restructure hopes boost shares
Shares continued to rise on Jan. 31 on both of the nation's stock
exchanges as investors remained upbeat over comments by Minister of
Finance Vuong Dinh Hue that the ministry is ready to take drastic
measures to reorganise the market to ensure its sustainability.
Shares continued to rise on Jan. 31 on both of the nation's stock
exchanges as investors remained upbeat over comments by Minister of
Finance Vuong Dinh Hue that the ministry is ready to take drastic
measures to reorganise the market to ensure its sustainability.
Information released about the VN30, the new benchmark index on the HCMC Stock Exchange which will begin tracking share movements on February 6, also strengthened investor confidence, FPT Securities Co analysts wrote in a report.
On the HCM City exchange, the VN-Index gained 0.79 percent over the previous session to close at nearly 388 points. The value of trades also soared by 72 percent over Jan. 30's level to 509 billion VND (24.2 million USD), while the volume of trades rose by 80 percent to 39 million shares.
Transactions focused on mid-cap and penny stocks, pushing many to their ceiling prices. Gainers included Becamex Infrastructure Development (IJC), Binh Duong Trade and Development (TDC), Sounthern Rubber Industry (CSM) and Vietnam Electricity Construction (VNE).
Blue chips were mixed. Real estate developer Hoang Anh Gia Lai and PetroVietnam Finance (PVF) hit the ceiling, but insurer Bao Viet Holdings (BVH), Phu My Fertilisers (DPM) and software giant FPT Corp (FPT) all posted declines between 0.6-1.1 percent.
Overall, gainers overwhelmed losers yesterday by 149-79.
On the Hanoi Stock Exchange, the HNX-Index climbed by 2.1 percent to close at 60.59 points. Both volume and value doubled Jan. 30's totals, with 38.6 million shares traded for a value of nearly 322.3 billion VND (15.3 million USD) Advancers on the northern bourse outnumbered decliners by 202-55.
Three codes saw activity in excess of three million shares, including Kim Long Securities (KLS), VNDirect Securities (VND) and PetroVietnam Construction (PVX). PVX was the most-active share during the session with 3.93 million traded. It soared to its ceiling price while KLS and VND each closed over 4 percent higher.
Foreign investors concluded as net buyers on both exchanges, picking up a combined 83.9 billion VND (4 million USD) worth of shares./.
Information released about the VN30, the new benchmark index on the HCMC Stock Exchange which will begin tracking share movements on February 6, also strengthened investor confidence, FPT Securities Co analysts wrote in a report.
On the HCM City exchange, the VN-Index gained 0.79 percent over the previous session to close at nearly 388 points. The value of trades also soared by 72 percent over Jan. 30's level to 509 billion VND (24.2 million USD), while the volume of trades rose by 80 percent to 39 million shares.
Transactions focused on mid-cap and penny stocks, pushing many to their ceiling prices. Gainers included Becamex Infrastructure Development (IJC), Binh Duong Trade and Development (TDC), Sounthern Rubber Industry (CSM) and Vietnam Electricity Construction (VNE).
Blue chips were mixed. Real estate developer Hoang Anh Gia Lai and PetroVietnam Finance (PVF) hit the ceiling, but insurer Bao Viet Holdings (BVH), Phu My Fertilisers (DPM) and software giant FPT Corp (FPT) all posted declines between 0.6-1.1 percent.
Overall, gainers overwhelmed losers yesterday by 149-79.
On the Hanoi Stock Exchange, the HNX-Index climbed by 2.1 percent to close at 60.59 points. Both volume and value doubled Jan. 30's totals, with 38.6 million shares traded for a value of nearly 322.3 billion VND (15.3 million USD) Advancers on the northern bourse outnumbered decliners by 202-55.
Three codes saw activity in excess of three million shares, including Kim Long Securities (KLS), VNDirect Securities (VND) and PetroVietnam Construction (PVX). PVX was the most-active share during the session with 3.93 million traded. It soared to its ceiling price while KLS and VND each closed over 4 percent higher.
Foreign investors concluded as net buyers on both exchanges, picking up a combined 83.9 billion VND (4 million USD) worth of shares./.
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