Shares strongly rebounded on both the national stock exchanges following the March 17 announcement by the central bank that it has cut key interest rates.
Many experts claimed that greater capital inflow will shift to the stock market as the Vietnamese dong deposit interest rate caps have been lowered to 6 percent per year from the current 7 percent.
More than 380 codes on both the bourses gained on March 17, boosting benchmark indices.
On the Ho Chi Minh City Exchange, the VN-Index increased for the ninth consecutive day, adding 3.53 points or as much as 0.59 percent to close at 600.36 points.
Although the profit-taking pressure was always technically great at the 600-point resistance level, the significant cash flow coupled with investor confidence, which was boosted by the rates cut news, allayed the pressure.
Liquidity boomed as the total trading value reached more than 3.3 trillion VND (157.14 million USD), 30 percent higher than last week's average trading value and more than 170 million shares were traded.
Blue chips showed mixed movement with 12 gainers and 15 losers. However, the VN30-Index, which tracks the southern city's 30 largest shares by capitalisation and liquidity, added 0.56 percent to finish at 672.15 points.
The market gain came mainly from blue chips, such as Masan Group (MSN) and PetroVietnam Transportation Corporation (PVT), which hit their ceiling prices, on the news that the Market Vector Vietnam ETF will increase its investment in the two stocks during this review period.
MSN rose 6.9 percent to close at 108,000 VND (5.14 USD) per share, while PVT closed at 16,000 VND (0.76 USD) per share with a gain of 6.7 percent.
The other gainers were real estate giant Vingroup (VIC), Hoang Anh Gia Lai (HAG), Sai Gon Securities Company (SSI), and Vinh Son Song Hinh Thermoelectric Company (VSH).
However, Bao Viet Group (BVH), Vinamilk (VNM), PetroVietnam Drilling Corporation (PVD), and Hoa Phat Group (HPG) were among the losers. The Sacombank (STB) and Vietcombank (VCB) were the two other losers.
Overall, 178 codes gained on the southern bourse, overwhelming losers that numbered at 71.
The interest rate cuts also boosted liquidity on the northern bourse to a new record with the trading value topping at 1.37 trillion VND (65.2 million USD) on the exchange of nearly 124.6 million shares.
The HNX-Index jumped 2.22 percent to finish at 86.31 points, while the HNXFF-Index, comprising stocks with a minimum free float rate of 5 percent, ended at 86.53 points, rising 2.35 percent.
Comprising top stocks, the HNX30-Index posted a gain of 3.01 percent to end at 175.1 points.
More than 200 codes closed higher on the northern bourse, while only 48 codes showed downward movement.-VNA
Many experts claimed that greater capital inflow will shift to the stock market as the Vietnamese dong deposit interest rate caps have been lowered to 6 percent per year from the current 7 percent.
More than 380 codes on both the bourses gained on March 17, boosting benchmark indices.
On the Ho Chi Minh City Exchange, the VN-Index increased for the ninth consecutive day, adding 3.53 points or as much as 0.59 percent to close at 600.36 points.
Although the profit-taking pressure was always technically great at the 600-point resistance level, the significant cash flow coupled with investor confidence, which was boosted by the rates cut news, allayed the pressure.
Liquidity boomed as the total trading value reached more than 3.3 trillion VND (157.14 million USD), 30 percent higher than last week's average trading value and more than 170 million shares were traded.
Blue chips showed mixed movement with 12 gainers and 15 losers. However, the VN30-Index, which tracks the southern city's 30 largest shares by capitalisation and liquidity, added 0.56 percent to finish at 672.15 points.
The market gain came mainly from blue chips, such as Masan Group (MSN) and PetroVietnam Transportation Corporation (PVT), which hit their ceiling prices, on the news that the Market Vector Vietnam ETF will increase its investment in the two stocks during this review period.
MSN rose 6.9 percent to close at 108,000 VND (5.14 USD) per share, while PVT closed at 16,000 VND (0.76 USD) per share with a gain of 6.7 percent.
The other gainers were real estate giant Vingroup (VIC), Hoang Anh Gia Lai (HAG), Sai Gon Securities Company (SSI), and Vinh Son Song Hinh Thermoelectric Company (VSH).
However, Bao Viet Group (BVH), Vinamilk (VNM), PetroVietnam Drilling Corporation (PVD), and Hoa Phat Group (HPG) were among the losers. The Sacombank (STB) and Vietcombank (VCB) were the two other losers.
Overall, 178 codes gained on the southern bourse, overwhelming losers that numbered at 71.
The interest rate cuts also boosted liquidity on the northern bourse to a new record with the trading value topping at 1.37 trillion VND (65.2 million USD) on the exchange of nearly 124.6 million shares.
The HNX-Index jumped 2.22 percent to finish at 86.31 points, while the HNXFF-Index, comprising stocks with a minimum free float rate of 5 percent, ended at 86.53 points, rising 2.35 percent.
Comprising top stocks, the HNX30-Index posted a gain of 3.01 percent to end at 175.1 points.
More than 200 codes closed higher on the northern bourse, while only 48 codes showed downward movement.-VNA
