Shares saw their strongest advance in six weeks on both stock exchangeson July 13 after shareholders of the Vietnam Enterprises Investment Ltd(VEIL) and Vietnam Growth Fund Ltd voted late Monday to continue thefunds.
"Domestic investor sentiment was cheered by theconfirmation that the major VEIL and Vietnam Growth funds were voted tocontinue operating in Vietnam, resulting in a strong rally on July13," said a Hanoi-based market analyst Pham Viet Hung.
Hung said investor confidence was further supported by positive moves inworld markets in the US, EU, Hong Kong and Shanghai – all ofwhich rose on Monday or overnight.
On the HCM StockExchange, the VN-Index rose by 1.83 percent to close Tuesday's sessionat 509.08 points. Trading volume soared 51 percent from Monday's levelto over 46.3 million shares while the value of trades rose 38 percent to1.38 trillion VND (72.6 million USD).
On the Hanoi StockExchange, the HNX-Index jumped by an impressive 2.75 percent to close at161.90 points. The volume of trades reached 41.4 million shares, worth acombined 1.17 trillion VND (61.6 million USD), an increase of 53percent in volume and 46 percent in value over Monday's levels.
The northern market welcomed its 310th listing, from Hanoi SouthHousing and Urban Development Co (NHA). NHA shares closed up 4.6 percentfrom their opening price to 47,600VND (2.51 USD) per share, with 49,000changing hands.
Foreign investors continued as net buyerson 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 theconfirmation that the major VEIL and Vietnam Growth funds were voted tocontinue operating in Vietnam, resulting in a strong rally on July13," said a Hanoi-based market analyst Pham Viet Hung.
Hung said investor confidence was further supported by positive moves inworld markets in the US, EU, Hong Kong and Shanghai – all ofwhich rose on Monday or overnight.
On the HCM StockExchange, the VN-Index rose by 1.83 percent to close Tuesday's sessionat 509.08 points. Trading volume soared 51 percent from Monday's levelto over 46.3 million shares while the value of trades rose 38 percent to1.38 trillion VND (72.6 million USD).
On the Hanoi StockExchange, the HNX-Index jumped by an impressive 2.75 percent to close at161.90 points. The volume of trades reached 41.4 million shares, worth acombined 1.17 trillion VND (61.6 million USD), an increase of 53percent in volume and 46 percent in value over Monday's levels.
The northern market welcomed its 310th listing, from Hanoi SouthHousing and Urban Development Co (NHA). NHA shares closed up 4.6 percentfrom their opening price to 47,600VND (2.51 USD) per share, with 49,000changing hands.
Foreign investors continued as net buyerson both exchanges, responsible for a combined net buy of 86 billion VND(4.5 million USD) worth of shares./.
