The VN-Index regained some lost ground in the final 30 minutes of trading on Nov. 29 on the HCM Stock Exchange, closing up nearly 1.5 percent to 446.36 points – and marking a fifth consecutive day of modest gains.
Earlier in the Nov. 29 session, investors had become hesitant when the Index flirted with the resistance level of 440, but active trading at the end of session helped the Index push through.
By the end of the day's trades, advancers outnumbered decliners by 163-52.
The volume of trades rose to nearly 45 million shares, about a million higher than Nov. 26's session, but the combined value of trades reached just 895.5 billion VND (44.8 million USD), about 105 billion VND lower than in the previous session.
Tran Hoa, director of analysis for the iTrade Corporation, attributed the rising Index over the past five days to bargain share prices and an assist from foreign investors.
"However, inflation and high interest rates are two major factors threatening the market, and it will not be easy for indices to establish a sustainable uptrend in the mid-term," Hoa said, predicting that investors would continue to wait for additional details on Government policies to stabilise the economy.
Shares in the construction materials and real estate sectors made the strongest showing, including developer Vincom (VIC), up 2.5 percent; Hoa Phat Group (HPG), up 4.2 percent; and Kinh Bac Urban Development (KBC), up 5 percent.
PetroVietnam Finance (PVF) and Sai Gon Securities Inc (SSI) also each rose by nearly 5 percent. Vietnam Electricity (VNE) was the most-active share, however, with only 1.6 million traded.
Vien Dong Pharmaceutical (DVD) plunged to its floor price of 46,900 VND per share following news that its chairman, Le Van Dung, had been detained by police for alleged manipulation of the company's share price. State Securities Commission chairman Vu Bang meanwhile vowed that regulators would co-ordinate with the police to clarify the extent of the alleged violation.
On the Hanoi Stock Exchange on Nov. 29, the HNX-Index rose by an even more impressive 3.59 percent to close at 105.22. The volume trades outstripped the HCM City market, reaching 48.8 million shares, while advancers outnumbered decliners by 282-39.
Vietnam Construction Import-Export Co (VCG), PetroVietnam Construction (PVX), Kim Long Securities Co (KLS), VNDirect Securities Co (VND), and Sai Gon Thuong Tin Real Estate Co (SCR) all rose to their ceiling prices.
PVX was the most-active share nationwide with 4.8 million traded. PVX closed up 1.3 percent to 21,000 VND per share./.
Earlier in the Nov. 29 session, investors had become hesitant when the Index flirted with the resistance level of 440, but active trading at the end of session helped the Index push through.
By the end of the day's trades, advancers outnumbered decliners by 163-52.
The volume of trades rose to nearly 45 million shares, about a million higher than Nov. 26's session, but the combined value of trades reached just 895.5 billion VND (44.8 million USD), about 105 billion VND lower than in the previous session.
Tran Hoa, director of analysis for the iTrade Corporation, attributed the rising Index over the past five days to bargain share prices and an assist from foreign investors.
"However, inflation and high interest rates are two major factors threatening the market, and it will not be easy for indices to establish a sustainable uptrend in the mid-term," Hoa said, predicting that investors would continue to wait for additional details on Government policies to stabilise the economy.
Shares in the construction materials and real estate sectors made the strongest showing, including developer Vincom (VIC), up 2.5 percent; Hoa Phat Group (HPG), up 4.2 percent; and Kinh Bac Urban Development (KBC), up 5 percent.
PetroVietnam Finance (PVF) and Sai Gon Securities Inc (SSI) also each rose by nearly 5 percent. Vietnam Electricity (VNE) was the most-active share, however, with only 1.6 million traded.
Vien Dong Pharmaceutical (DVD) plunged to its floor price of 46,900 VND per share following news that its chairman, Le Van Dung, had been detained by police for alleged manipulation of the company's share price. State Securities Commission chairman Vu Bang meanwhile vowed that regulators would co-ordinate with the police to clarify the extent of the alleged violation.
On the Hanoi Stock Exchange on Nov. 29, the HNX-Index rose by an even more impressive 3.59 percent to close at 105.22. The volume trades outstripped the HCM City market, reaching 48.8 million shares, while advancers outnumbered decliners by 282-39.
Vietnam Construction Import-Export Co (VCG), PetroVietnam Construction (PVX), Kim Long Securities Co (KLS), VNDirect Securities Co (VND), and Sai Gon Thuong Tin Real Estate Co (SCR) all rose to their ceiling prices.
PVX was the most-active share nationwide with 4.8 million traded. PVX closed up 1.3 percent to 21,000 VND per share./.
