VN-Index recovers on credit easing

Vietnam’s benchmark VN-Index rebounded from three-month low on March 4 as investors regained confidence after the central bank cut deposit rate to 14 per annum.

The shares of 281 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange jumped 1.52 percent, or 6.89 points, to close at 459.23 points.

Among the index members, 120 soared, 89 retreated, while 77 remained unchanged.

Trading on the city bourse raised by 7 percent in volume and 12 percent in value over the previous trading session as more than 32.85 million shares changed hands at a value of VND739 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, was the most active share in volume with 2.09 million shares changing hands.

Transport Engineering Construction & Business Investment Joint Stock Company 584 (NTB) followed with 1.48 million shares changed hands.

Refrigeration Electrical Engineering Corporation (REE) came next with 1.01 million shares.

Masan Group (MSN) and Mien Trung Petroleum Construction Joint Stock Company (PXM), were the biggest gainers on the city bourse today, both sprang 4.94 percent to close at VND85,000 and VND8,500 respectively.

Binh Duong ConStruction & Civil Enggineering Joint Stock Company (BCE) recovered 4.9 percent to VND10,700.

Vinh Long Cereal and Food Corporation (VLF) shot up 4.89 percent to VND23,600.

Ba Ria - Vung Tau House Development Joint Stock Company (HDC) collapsed the daily maximum allowed limit of 5 percent to VND30,400.

OPC Pharmaceutical Joint Stock Company (OPC) debased 4.93 percent to VND32,800.

Hamico Mineral Group (KSH) slipped 4.91 percent to VND27,100.

The Hanoi’s HNX-Index of the smaller bourse in the north slightly improved 0.9 percent, or 0.81 points, to close at 90.93 points. Trading volume dropped to 24.7 million shares worth VND368.52 billion.

Meanwhile, the UPCom-Index of unlisted shares market inched up 0.05 points to 39.26 points this morning. A total of 91,750 shares changed hands at a value of VND1.12 billion.

By Da Nguyet

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