Liquidity soars, stock market peaks since Kien’s arrest
Liquidity soars, stock market peaks since Kien’s arrest
With the help of foreign investors, the two benchmark indices of Ho Chi Minh Stock Exchange (HoSE) and Hanoi Stock Exchange (HNX) today witnessed their most beautiful day since August 21, 2012, one day afterfinancial mogul Nguyen Duc Kien was arrested.
Some 220 million shares worth a combined VND2.67 trillion ($128.2 million) on both HoSE and HNX were traded.
While many securities companies had predicted the VN-Index would meet strong resistance at around 437-440 points, the benchmark of HoSE rose for the 10th session in a row to 447.16 points, up about 3 percent day on day.
Total transaction on the southern bourse reached some 120 million shares worth around VND2 trillion.
The index rose to the highest in seven months.
On the northern bourse, the HNX-Index rose 1.61 percent day on day to 59.95 points with 95.5 million shares worth some VND670 billion changing hands.
The rise today stemmed from the blue chips on both bourses.
The VN30 index of HoSE closed today with 25 gainers, 16 stocks of which closed at or near the ceiling prices. Among them, the 4 blue chips with largest market capitalization, Masan (MSN), Vietcombank (VCB), Vinamilk (VNM), and Bao Viet (BVH), closed at ceiling prices.
On the northern floor, the rise from the blue chips spread across the market and helped lift the sentiment of investors in the afternoon session.
According to observers, foreign transactions on the stock market rose sharply in the last sessions, with cash flow focusing primarily on stocks of the VN30 group and some blue chips on HNX.
Vietnam’s stocks rose the most among Asia’s largest equity markets on speculation the government will take steps to help companies cope with a slowing economy, according to Bloomberg.
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