Looser trading cap spurs shares
Looser trading cap spurs shares
Shares managed to rally on both national stock exchanges January 15, with many listed stocks hitting their newly-extended ceiling prices.
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| Source: VietstockFinance |
On the HCM City Stock Exchange, the VN-Index added 0.53 per cent to close at 461.42 points after losing nearly 1 per cent in the previous session.
Only 52 listed stocks declined while roughly 200 others increased.
Trading value jumped 18.6 per cent over Monday to reach VND1.17 trillion (US$55.7 million), as trading volume fetched 88.8 million shares.
Blue chips enjoyed a day in the green as 23 out of the 30 leading shares added value.
Two codes among these stocks - construction and real estate shares Dic Corp (DIG) and Tan Tao (ITA) - reached their ceiling prices yesterday, the first day of trading caps being raised from 5 to 7 per cent in HCM City.
Meanwhile, only insurer Bao Viet (BVH), logistics firm Gemadept (GMD), steel producer Hoa Phat (HPG) and Sacombank (STB) retreated.
The VN30 rose 0.99 per cent to 542.73 points.
On the Ha Noi Stock Exchange, the HNX-Index closed at 62.19 points, 2.6 per cent higher than at the end of Monday's session.
Gainers overwhelmed losers by 198-53.
Market value surged 64.6 per cent to VND849 billion ($40.4 million) on a volume of 111.35 million shares.
The HNX30, tracking the northern exchange's top shares, rose even higher - 3.3 per cent - to 121.79 points.
Trading fluctuation on shares also heightened in Ha Noi yesterday, from 7 to 10 per cent. The most notable stock was PetroVietnam Construction Co (PVX), which hit its ceiling price and saw over 13.4 million shares change hands.
Others to reach the 10 per cent limitation were mostly low price shares, but they were the main stocks attracting money yesterday. Shares which had been sluggishly traded in the previous session were much more in favour yesterday.
According to Bao Viet Securities Co analysts, most shares have grown around 30 per cent during the recent rally period.
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