The ninth petrol price reduction this year and the successful sale of Government bonds worth 1 billion USD on the international market provided much-needed support for domestic stock markets on November 7.
The bond sale has reaffirmed Vietnam 's economic recovery and growth outlook following the credit upgrade of reputable ratings agencies for the country.
At the HCM City Stock Exchange, the VN-Index extended November 6’s gains by adding 0.79 percent to reach 602.59 points. Transaction value jumped by nearly 38 percent compared with the previous session to about 2.2 trillion VND (103.7 million USD), as trading volume increased to 125.6 million shares.
Among the 30 largest stocks in terms of capitalisation and liquidity, only four retreated, including Eximbank, Kinh Do Confectionery, Ocean Group and PetroVietnam Drilling Services.
Meanwhile, exactly 17 blue-chip shares posted gains, notably steelmaker Hoa Phat by 2.7 percent and private equity group Masan by 4.3 percent. The VN30 Index tracking these blue chips rose by 0.82 percent to reach 642.77 points.
At the Hanoi Stock Exchange, the HNX-Index climbed by 0.26 percent to reach 89.55 points on a total market value of 654.5 billion VND (30.8 million USD). The northern market's blue chips pushed the HNX30 up by 0.27 percent to 180.13 points.
Trading was quite active because of real estate shares such as FLC Group, Hoang Anh Gia Lai and Kinh Bac Urban City , as well as Tan Tao, Duc Long Gia Lai and Tasco.
FLC led the two bourses in trading volume yesterday, rising by 5.4 percent with nearly 23 million shares changing hands. Foreign investors bought 34,200 FLC shares.
Foreign investors increased their purchasing activities on November 7, and this is good news for investors in general. Buyers could consider taking the action now as shares showed sign of entering a new rally, according to FPT Securities.-VNA
