World Bank optimism propels market rally
World Bank optimism propels market rally
Share prices continued to rise at the Vietnamese stock markets yesterday following a positive World Bank review of Viet Nam's economy.
The Bank yesterday released a report saying the Vietnamese economy was recovering, with a growth rate that was improving from 5.4 per cent in 2013 to 5.6 per cent this year.
The Bank attributed the improved outlook to policies that stabilise economic operations and boost the manufacturing sector.
At the HCM City Stock Exchange, the benchmark VN-Index added nearly one per cent to reach 574.88 points. The VN30 Index, which tracks the city's top 30 stocks, also climbed by 0.93 per cent to end at 619.29 points, largely because of the gains of 17 blue chips.
Eximbank (EIB) hit the ceiling price of VND12,600 and witnessed 2.7 million shares change hands. This was three times higher than its average volume in the past 10 sessions. EIB helped the group of bank stocks add 1.9 per cent, the highest increase among sectors.
Only six of the blue chips retreated.
Total trading value reached VND2 trillion (US$93.9 million) and total volume reached 119 million shares, an improvement over the previous session.
At the Ha Noi Stock Exchange, the HNX-Index increased by 0.81 per cent to end at 88.57 points. The HNX30 Index, which tracks the capital city's 30 leading stocks, jumped by more than one per cent to reach 177.28 points.
Total trading value reached VND735.5 billion ($34.5 million) and total trading volume reached more than 54.6 million shares.
Foreign investors significantly reduced their selling activities in HCM City to buy a net of VND39.3 billion ($1.8 million) and VND14.1 billion ($661,900) in Ha Noi.
