Trade surplus spurs rebound
Trade surplus spurs rebound
The market made a spirited comeback on Tuesday as two benchmark indices reversed Monday's losses to finish the session with improved value.
According to Kim Eng Securities Co analysts, data-released showing a nine-month trade surplus helped encourage the gains.
The General Department of Customs has announced that by the end of September, the total import and export turnover of Viet Nam reached US$166.96 billion, up 12 per cent compared to the same period last year, leading to a trade surplus of $143 million.
Meanwhile, the sudden increase of consumer price index (CPI) in September was attributed to the increase in prices of drugs and health care services. "However, these two groups will not strongly affect CPI in the final months of the year," predicted analyst Le Huynh Nhut Hai for ACB Securities Co.
He also forecast this year's CPI to rise by 8.2-8.3 per cent.
On the HCM City Stock Exchange, trading value jumped 32.8 per cent from Monday's level to VND555.2 billion ($26.4 million) as trading volume spiked to nearly 41.2 million shares.
The VN-Index added 1.96 per cent to close at 399.22 points. Around two-thirds of the listed stocks finished in the green.
The VN30, representing the city's top shares, also climbed 2.24 per cent, reaching 471.68 points, while none of the shares it tracks tumbled. Encouragingly, nine hit their daily increase limit. They were mostly real estate and financial stocks such as Dic Corp (DIG), Becamex (IJC), Tan Tao (ITA), Tu Liem Urban Development (NTL), Ocean Group (OGC) and PetroVietnam Finance (PVF).
Securities shares on the Ha Noi Stock Exchange, including PetroVietnam Securities (PSI), Wall Street Securities (WSS), Bao Viet Securities (BVS) and VNDirect (VND), also showed a strong performance.
Despite the market upheavals, some brokerages still managed to earn profits in the third quarter, including Sai Gon Securities Inc (SSI), HCM City Securities (HCM), VietCapital, VNDirect and Bao Viet.
The HNX-Index rose 2.4 per cent to 56.28 points. Gainers outnumbered losers by 186-48.
Market value increased 47.6 per cent compared to the previous trading day, leaping to VND263.9 billion ($12.5 million) with 38 million shares changing hands.
Finally, blue chips on the northern bourse pushed the HNX30, comprised of the 30 leading shares by capitalisation and liquidity, up 4.4 per cent to 106.81 points.
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