Bullish sentiment rules equities market

Vietnam’s benchmark VN-Index climbed for nine consecutive trading sessions to a three-month high on September 7 as investors bought stocks heavily on speculation that rising momentum will be maintained, following central bank’s effort to cut interest rates and strengthen the Vietnamese dong.

The shares of 295 companies and five closed-end funds listed on the Ho Chi Minh City Stock Exchange accelerated 1.8 percent, or 7.83 points, to close at 443.99 points.

Among the benchmark members, 208 emerged, 41 reduced, while 51 remained unchanged.

Trading on the city bourse was a little changed over the previous day as around 44.27 million shares changed hands at a value of VND704 billion.

Licogi 16 Joint Stock Company (LCG) won the spot of most active share in volume with 4.42 million shares changing hands.

Saigon Securities Inc. (SSI), the country’s largest brokerage, took the second rank with 2.65 million shares traded.

Tan Tao Investment & Technology Joint Stock Company (ITA) came in third with 2.23 million shares.

Viky Plastic Joint Stock Company (VKP) rocketed 6.25 percent to VND1,700.

Ocean Group Joint Stock Company (OGC), and Bac Giang Exploitable Mineral Joint Stock Company (BGM) both shot up 5 percent to VND14,700, and VND10,500 respectively.

Saigon Securities Inc. (SSI) rebounded 4.98 percent to VND21,100.

Vung Tau Construction & Real Estate Joint Stock Company (VRC) dumped 6.86 percent to close at VND9,500.

Lilama 18 Joint Stock Company (LM8) stripped 4.85 percent to VND9,800.

Binh Duong Mineral & Construction Joint Stock Company (KSB), and Cuu Long Petro Urban Development & Investment Corporation (CCL) sliced 4.76 percent to VND50,000, and VND10,000 respectively.

The Hanoi’s HNX-Index of the smaller bourse in the north strongly recovered. The gauge of 386 companies regained 4.04 percent, or 2.98 points, to finish at 76.75 points. Trading on the northern floor improved by 25 percent in volume and 30 percent in value over the previous day as more than 69.93 million shares changed hands at a value of nearly VND697.6 billion.

Meanwhile, the UPCoM-Index of unlisted shares also jumped 1.71 percent, or 0.53 points, to 31.45 points. A total of 153,700 shares changed hands at a value of VND861 million at 2:35 pm local time.

By Kha Lam

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