The HCM City Stock Exchange reversed three days of declines on March 24, with the VN-Index gaining 1.1 percent on the day to end the session at 512.12 points.

While volume remained steady at about 44.6 million shares, the value of the day’s trades rose to 2 trillion VND (105.3 million USD). Saigon Securities Inc. (SSI) made the most impressive showing, with 3.6 million shares changing hands, accounting for nearly 8.3 percent of market volume.

On the Hanoi Stock Exchange, the HNX-Index rose by 0.75 percent to close at 168.24 points. Volume reached 25 million shares, worth a combined 864.1 billion VND (45.5 million USD), with Kim Long Securities Co continuing to hold the position as most-active share on a volume of 3.1 million.

Analysts of Dai Viet Securities Co pointed to bounces in steel stocks and penny shares as primary drivers behind the modest rally. Steadily rising domestic steel prices have stoked investor expectations for profits within this sector, even while steel stocks remained undervalued on the market.

Meanwhile, an announcement was expected soon from the State Securities Commission regarding shares to be sold within two days of purchase (so-called T+2 trading), and the policy change would likely help lift the market, said Do Hong Diep, head of analysis for Habubank Securities Co.

The commission held a private meeting during the day with securities companies, fund managers and securities organisations to seek their input on T+2 trading before the new method was formally implemented.
 
“The operation of T+2 trading will allow the introduction of a series of derivative tools in the future, including margin trading and futures contracts,” 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./.