Shares saw their strongest advance in six weeks on both stock exchanges on July 13 after shareholders of the Vietnam Enterprises Investment Ltd (VEIL) and Vietnam Growth Fund Ltd voted late Monday to continue the funds.
"Domestic investor sentiment was cheered by the confirmation that the major VEIL and Vietnam Growth funds were voted to continue operating in Vietnam, resulting in a strong rally on July 13," said a Hanoi-based market analyst Pham Viet Hung.
Hung said investor confidence was further supported by positive moves in world markets in the US, EU, Hong Kong and Shanghai – all of which rose on Monday or overnight.
On the HCM Stock Exchange, the VN-Index rose by 1.83 percent to close Tuesday's session at 509.08 points. Trading volume soared 51 percent from Monday's level to over 46.3 million shares while the value of trades rose 38 percent to 1.38 trillion VND (72.6 million USD).
On the Hanoi Stock Exchange, the HNX-Index jumped by an impressive 2.75 percent to close at 161.90 points. The volume of trades reached 41.4 million shares, worth a combined 1.17 trillion VND (61.6 million USD), an increase of 53 percent in volume and 46 percent in value over Monday's levels.
The northern market welcomed its 310th listing, from Hanoi South Housing and Urban Development Co (NHA). NHA shares closed up 4.6 percent from their opening price to 47,600VND (2.51 USD) per share, with 49,000 changing hands.
Foreign investors continued as net buyers on both exchanges, responsible for a combined net buy of 86 billion VND (4.5 million USD) worth of shares./.
"Domestic investor sentiment was cheered by the confirmation that the major VEIL and Vietnam Growth funds were voted to continue operating in Vietnam, resulting in a strong rally on July 13," said a Hanoi-based market analyst Pham Viet Hung.
Hung said investor confidence was further supported by positive moves in world markets in the US, EU, Hong Kong and Shanghai – all of which rose on Monday or overnight.
On the HCM Stock Exchange, the VN-Index rose by 1.83 percent to close Tuesday's session at 509.08 points. Trading volume soared 51 percent from Monday's level to over 46.3 million shares while the value of trades rose 38 percent to 1.38 trillion VND (72.6 million USD).
On the Hanoi Stock Exchange, the HNX-Index jumped by an impressive 2.75 percent to close at 161.90 points. The volume of trades reached 41.4 million shares, worth a combined 1.17 trillion VND (61.6 million USD), an increase of 53 percent in volume and 46 percent in value over Monday's levels.
The northern market welcomed its 310th listing, from Hanoi South Housing and Urban Development Co (NHA). NHA shares closed up 4.6 percent from their opening price to 47,600VND (2.51 USD) per share, with 49,000 changing hands.
Foreign investors continued as net buyers on both exchanges, responsible for a combined net buy of 86 billion VND (4.5 million USD) worth of shares./.
