Business

Shares gain on inflation hopes

Money returned to the stock market on March 21, lifting shares on both of the country's stock exchanges even as global stock markets tumbled.
Money returned to the stock market on March 21, lifting shares on bothof the country's stock exchanges even as global stock markets tumbled.

"Inflation is showing signs of easing and could reach single-digitlevels on an annual basis by the end of the second quarter," predictedthe head of research for Dragon Capital, Le Anh Tuan.

Onthe Hanoi Stock Exchange, the HNX-Index closed up by 1.7 percent to75.66 points. The value of trades climbed 10.8 per cent over theprevious day's level to nearly 1.1 trillion VND (52.3 million USD), andadvancers outnumbered decliners by a substantial margin of 242-55.Habubank (HBB) continued to be the most-active share with 19.8 milliontraded.

Thanks to positive trading in securities stocks inHanoi and a low price level, Sacombank Securities Co (SBS) hit thedaily increase limit of 5 percent and enjoyed a buy surplus from theopening minutes of trading.

On the HCM Stock Exchange, theVN-Index rose by 1.24 per cent to 445.77 points, and advancersaccounted for two thirds of all listed stocks. Market value jumped 41percent over the previous session to about 1.4 trillion VND (66.6million USD). Volume reached 98.4 million shares.

None ofthe 10 leading shares by capitalisation lost value, although, afterloads of orders placed at its ceiling price early in the session, realestate developer Hoang Anh Gia Lai (HAG) finally closed at its referenceprice of 29,100 VND per share.-VNA
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