The HCM City Stock Exchange reversedthree days of declines on March 24, with the VN-Index gaining 1.1percent on the day to end the session at 512.12 points.
Whilevolume remained steady at about 44.6 million shares, the value of theday’s trades rose to 2 trillion VND (105.3 million USD). SaigonSecurities Inc. (SSI) made the most impressive showing, with 3.6million shares changing hands, accounting for nearly 8.3 percent ofmarket volume.
On the Hanoi Stock Exchange, the HNX-Index rose by 0.75 percent toclose at 168.24 points. Volume reached 25 million shares, worth acombined 864.1 billion VND (45.5 million USD), with Kim Long SecuritiesCo continuing to hold the position as most-active share on a volume of3.1 million.
Analysts of Dai Viet Securities Co pointed to bounces in steel stocksand penny shares as primary drivers behind the modest rally. Steadilyrising domestic steel prices have stoked investor expectations forprofits within this sector, even while steel stocks remainedundervalued on the market.
Meanwhile, an announcement was expected soon from the State SecuritiesCommission regarding shares to be sold within two days of purchase(so-called T+2 trading), and the policy change would likely help liftthe market, said Do Hong Diep, head of analysis for Habubank SecuritiesCo.
The commission held a private meeting during the day with securitiescompanies, fund managers and securities organisations to seek theirinput on T+2 trading before the new method was formally implemented.
“The operation of T+2 trading will allow the introduction of a seriesof derivative tools in the future, including margin trading and futurescontracts,” Diep said, all of which would help invigorate trading.
Foreign investors continued to be net buyers for the second day,responsible for a combined 650,000 shares on both stock exchanges./.
Whilevolume remained steady at about 44.6 million shares, the value of theday’s trades rose to 2 trillion VND (105.3 million USD). SaigonSecurities Inc. (SSI) made the most impressive showing, with 3.6million shares changing hands, accounting for nearly 8.3 percent ofmarket volume.
On the Hanoi Stock Exchange, the HNX-Index rose by 0.75 percent toclose at 168.24 points. Volume reached 25 million shares, worth acombined 864.1 billion VND (45.5 million USD), with Kim Long SecuritiesCo continuing to hold the position as most-active share on a volume of3.1 million.
Analysts of Dai Viet Securities Co pointed to bounces in steel stocksand penny shares as primary drivers behind the modest rally. Steadilyrising domestic steel prices have stoked investor expectations forprofits within this sector, even while steel stocks remainedundervalued on the market.
Meanwhile, an announcement was expected soon from the State SecuritiesCommission regarding shares to be sold within two days of purchase(so-called T+2 trading), and the policy change would likely help liftthe market, said Do Hong Diep, head of analysis for Habubank SecuritiesCo.
The commission held a private meeting during the day with securitiescompanies, fund managers and securities organisations to seek theirinput on T+2 trading before the new method was formally implemented.
“The operation of T+2 trading will allow the introduction of a seriesof derivative tools in the future, including margin trading and futurescontracts,” Diep said, all of which would help invigorate trading.
Foreign investors continued to be net buyers for the second day,responsible for a combined 650,000 shares on both stock exchanges./.
