Stocks spring on bullish sentiment

Vietnam’s benchmark VN-Index unwrapped week with the steepest gain in almost three weeks on February 20 as investors increased buying on speculation that rising momentum would be maintained.

The gauge of 302 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange shot up 2.65 per cent, or 10.68 points, to close at 413.98 points, the highest level since November 1, 2011.

Trading on the city bourse improved by 20 per cent in volume, and 25 per cent in value over the previous trading session as around 49 million shares changed hands at a total value of VND685 billion.

Vietnam Commercial Joint Stock Export Import Bank or Eximbank (EIB) was the most active share in volume with 3.73 million shares changing hands.

Military Commercial Joint Stock Bank (MBB) was the runner-up with 2.94 million shares traded.

Saigon Securities Inc. (SSI), the country’s largest brokerage, followed with 2.62 million shares.

Viky Plastic Joint Stock Company (VKP) retrieved 16.67 per cent to close at VND700.

Saigon Beverages Joint Stock Company (TRI) rallied 5.88 per cent to finish at VND1,800.

Meca Vneco Investment & Electricity Construction Joint Stock Company (VES) leaped forward 5.26 per cent to close at VND2,000.

Cadovimex Seafood Import-Export & Processing Joint Stock Company (CAD) plunged 8.33 per cent to close at VND1,100.

Tien Giang Investment and Construction Joint Stock Company (THG) crushed 5 per cent to close at VND9,500.

SPM Joint Stock Company (SPM) lost 4.85 per cent to close at VND39,200.

The VN30 Index climbed 14.22 points, or 3.15 per cent, to end at 465.44 points. Among its 30 members, 28 stocks rallied, one declined and one closed unmoved.

Hanoi’s HNX-Index of the smaller bourse in the north rocketed 4.01 per cent, or 2.48 points, to close at 64.27 points. Around 53.16 million shares changed hands at a total value of VND439.56 billion.

Meanwhile, the UPCoM-Index of unlisted shares dipped 0.52 per cent, or 0.18 points, to 34.25 points at 11.30 am local time. A total of 94,940 shares were traded at VND464 million.

By Thuy Doan

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