Investor sentiment on the nation’s stock markets improved throughout last week, helped by measures by the State Bank of Vietnam to ease interest rate pressures, lifting the VN-Index to a close on April 9 of 517.46 points, a gain of 1.36 percent from the previous week.
On the HCM Stock Exchange, the average daily value of trades rose by 26.5 percent from the previous week’s average, to over 2 trillion VND (105.3 million USD), while average daily volumes grew by 29.6 percent to nearly 54.3 million shares.
On the Hanoi Stock Exchange, the HNX-Index increased by a far more impressive 4.09 percent over the previous week’s close to end April 9’s session at 170.83 points.
Average daily trading value on this market soared by 89.8 percent to over 1.5 trillion VND (79 million USD), while the average volume grew by 88.8 percent to 43.4 million shares.
The northern bourse’s liquidity was boosted by rising interest in shares in the petroleum and construction sectors, including PetroVietnam Construction Co (PVX), Vinashin Petroleum Investment and Transport Co (ICG). Both sectors have enjoyed strong earnings and boosted by rumours of rising prices in the near future.
Foreign investors concluded the week as net buyers on both bourses, responsible for a net buy of 7.4 million shares, worth a combined 507 billion VND (26.7 million USD).
The State Bank of Vietnam injected nearly 14 trillion VND (737 million USD) into the nation’s banking system last week through the open market operations in an effort to improve the system liquidity and hold down skyrocketing lending rates.
Following the move, some leading banks confirmed they would lower commercial lending rates to 14-15 percent per year.
As listed companies continue to release first quarter business results this week, a number of analysts believed that the market would continue to rally and regain the 520-mark./.
On the HCM Stock Exchange, the average daily value of trades rose by 26.5 percent from the previous week’s average, to over 2 trillion VND (105.3 million USD), while average daily volumes grew by 29.6 percent to nearly 54.3 million shares.
On the Hanoi Stock Exchange, the HNX-Index increased by a far more impressive 4.09 percent over the previous week’s close to end April 9’s session at 170.83 points.
Average daily trading value on this market soared by 89.8 percent to over 1.5 trillion VND (79 million USD), while the average volume grew by 88.8 percent to 43.4 million shares.
The northern bourse’s liquidity was boosted by rising interest in shares in the petroleum and construction sectors, including PetroVietnam Construction Co (PVX), Vinashin Petroleum Investment and Transport Co (ICG). Both sectors have enjoyed strong earnings and boosted by rumours of rising prices in the near future.
Foreign investors concluded the week as net buyers on both bourses, responsible for a net buy of 7.4 million shares, worth a combined 507 billion VND (26.7 million USD).
The State Bank of Vietnam injected nearly 14 trillion VND (737 million USD) into the nation’s banking system last week through the open market operations in an effort to improve the system liquidity and hold down skyrocketing lending rates.
Following the move, some leading banks confirmed they would lower commercial lending rates to 14-15 percent per year.
As listed companies continue to release first quarter business results this week, a number of analysts believed that the market would continue to rally and regain the 520-mark./.
