Stock indices rallied on May 4, following discussions between the State Bank of Vietnam and major commercial banks on May 3 on reducing interest rates.
Per the discussions, banks will be required to reduce that gap between deposit and lending interest rates to no more than 3 percent for some specific sectors, including exports, agriculture, support industries, and small and medium-sized enterprises.
"The market is in a state of waiting for policies to solve the difficulties of the manufacturing sector," said Viet Dragon Securities Co analysts. Speculative stocks should be avoided, they cautioned, as money flows could be unstable.
On the Ho Chi Minh Stock Exchange on May 4, the VN-Index saw positive gains throughout the session, adding 1.6 percent over the previous day's close to end the day at 476.32 points. The value of trades rose 8.3 percent from May 3's session, reaching 1.13 trillion VND (53.8 million USD), while volume exceeded 108 million shares.
Advancers overwhelmed decliners by 240-35, while the VN30 Index gained 1.2 percent to close at 542.50 points. Of the 30 leading shares in terms of capitalisation and liquidity, only Phu Nhuan Jewelry (PNJ), construction firm Dig Corp (DIG) and Sacombank (STB) tumbled, while food processors Masan Group (MSN) and Bourbon Tay Ninh (SBT), Refrigeration&Electrical Engineering (REE) and Vinh Son-Song Hinh Hydropower Co (VSH) rose to their ceiling prices.
VSH was also the most-active share in HCM City with some 3.7 million changing hands.
"There have yet to be any signs of massive sells stemming from recent corrections," Kim Eng Securities Co analyst Nguyen Hoai Nam wrote in a note. The uptrend of the VN-Index was still being maintained, he added.
On the Hanoi Stock Exchange, the HNX-Index rose nearly 2 percent to end the session at 81.27 points. Approximately 70 percent of all listed codes added value. Trading improved with both market value and volume increasing around 7 percent, to 1 trillion VND (47.6 million USD) and 101.1 million shares.
With 12.6 million shares exchanged, Habubank (HBB) continued as the most-active share on anticipation of a looming takeover.
Domestic gold prices dropped to the lowest level since late last year, as world prices fell around 1.1 percent overnight in New York . Gold traders locally posted buy/sell prices of 42,150 VND/42,420 VND per tael (with one tael equal to 1.2 ounces) – a decline of over 120,000 VND per tael.-VNA
Per the discussions, banks will be required to reduce that gap between deposit and lending interest rates to no more than 3 percent for some specific sectors, including exports, agriculture, support industries, and small and medium-sized enterprises.
"The market is in a state of waiting for policies to solve the difficulties of the manufacturing sector," said Viet Dragon Securities Co analysts. Speculative stocks should be avoided, they cautioned, as money flows could be unstable.
On the Ho Chi Minh Stock Exchange on May 4, the VN-Index saw positive gains throughout the session, adding 1.6 percent over the previous day's close to end the day at 476.32 points. The value of trades rose 8.3 percent from May 3's session, reaching 1.13 trillion VND (53.8 million USD), while volume exceeded 108 million shares.
Advancers overwhelmed decliners by 240-35, while the VN30 Index gained 1.2 percent to close at 542.50 points. Of the 30 leading shares in terms of capitalisation and liquidity, only Phu Nhuan Jewelry (PNJ), construction firm Dig Corp (DIG) and Sacombank (STB) tumbled, while food processors Masan Group (MSN) and Bourbon Tay Ninh (SBT), Refrigeration&Electrical Engineering (REE) and Vinh Son-Song Hinh Hydropower Co (VSH) rose to their ceiling prices.
VSH was also the most-active share in HCM City with some 3.7 million changing hands.
"There have yet to be any signs of massive sells stemming from recent corrections," Kim Eng Securities Co analyst Nguyen Hoai Nam wrote in a note. The uptrend of the VN-Index was still being maintained, he added.
On the Hanoi Stock Exchange, the HNX-Index rose nearly 2 percent to end the session at 81.27 points. Approximately 70 percent of all listed codes added value. Trading improved with both market value and volume increasing around 7 percent, to 1 trillion VND (47.6 million USD) and 101.1 million shares.
With 12.6 million shares exchanged, Habubank (HBB) continued as the most-active share on anticipation of a looming takeover.
Domestic gold prices dropped to the lowest level since late last year, as world prices fell around 1.1 percent overnight in New York . Gold traders locally posted buy/sell prices of 42,150 VND/42,420 VND per tael (with one tael equal to 1.2 ounces) – a decline of over 120,000 VND per tael.-VNA
