Order to sell dollars lifts shares
The news that the Government ordered the
central bank to sell US dollars and retain the exchange rate by year's
end boosted the Vietnamese securities market on Nov. 4, with indices
rising on both exchanges after three consecutive days of losses.
The news that the Government ordered the
central bank to sell US dollars and retain the exchange rate by year's
end boosted the Vietnamese securities market on Nov. 4, with indices
rising on both exchanges after three consecutive days of losses.
On Nov. 4 morning, the Government ordered the State Bank of Vietnam not to depreciate the US dollar exchange rate but increase selling the greenback in order to ease the fevered forex market and stabilise the economy.
On the HCM Stock Exchange, the VN-Index rose 1.08 percent to close at 448.95. Trades on the bourse also increased by 10 percent to over 28.1 million shares worth 633.4 billion VND (31.7 million USD).
Overall, advancers more than trebled decliners, with most blue chips rising, including Masan investment group (MSN), which hit its ceiling price.
Of the 10 largest capitalised shares, only property developer Hoang Anh Gia Lai (HAG) and industrial conglomerate Hoa Phat Group (HPG) posted losses of 0.63 percent and 0.5 percent, respectively.
Vinh Son-Song Hinh Hydropower (VSH) surprised the market by becoming the most active stock nationwide with 2.54 million shares exchanged. VSH rose 3.41 percent to close at 12,100 VND (0.60U SD).
On the Ha Noi Stock Exchange, the HNX-Index increased by 0.55 percent to close at 109.71. However, the market volume fell 11 percent to 20.2 million shares worth 378.2 VND (18.9 million USD).
Advancers largely outnumbered losers by 174-90, with PetroVietnam Construction (PVX) again being the most active share with a volume of 2.39 million. PVX rose 0.96 percent to close at 21,000 VND (1.05 USD).
Foreign investors continued to be net buyers on both bourses, picking up a combined 2.6 million shares worth nearly 89 billion VND (4.4 million USD)./.
On Nov. 4 morning, the Government ordered the State Bank of Vietnam not to depreciate the US dollar exchange rate but increase selling the greenback in order to ease the fevered forex market and stabilise the economy.
On the HCM Stock Exchange, the VN-Index rose 1.08 percent to close at 448.95. Trades on the bourse also increased by 10 percent to over 28.1 million shares worth 633.4 billion VND (31.7 million USD).
Overall, advancers more than trebled decliners, with most blue chips rising, including Masan investment group (MSN), which hit its ceiling price.
Of the 10 largest capitalised shares, only property developer Hoang Anh Gia Lai (HAG) and industrial conglomerate Hoa Phat Group (HPG) posted losses of 0.63 percent and 0.5 percent, respectively.
Vinh Son-Song Hinh Hydropower (VSH) surprised the market by becoming the most active stock nationwide with 2.54 million shares exchanged. VSH rose 3.41 percent to close at 12,100 VND (0.60U SD).
On the Ha Noi Stock Exchange, the HNX-Index increased by 0.55 percent to close at 109.71. However, the market volume fell 11 percent to 20.2 million shares worth 378.2 VND (18.9 million USD).
Advancers largely outnumbered losers by 174-90, with PetroVietnam Construction (PVX) again being the most active share with a volume of 2.39 million. PVX rose 0.96 percent to close at 21,000 VND (1.05 USD).
Foreign investors continued to be net buyers on both bourses, picking up a combined 2.6 million shares worth nearly 89 billion VND (4.4 million USD)./.
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