Upbeat sentiment spreads over market

Vietnam’s benchmark VN-Index soared on April 11 as sentiment improved after the Central Bank announced interest rate cuts and news spread that Vietnam’s foreign currency reserves topped US$17 billion, an approximate amount of which existed before the 2008 financial crisis.

The index of 305 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange rocketed 1.75 per cent, or 7.89 points, to close at 458.74 points, with 237 gainers, 34 losers, and 39 stocks remaining unchanged.

Trading on the city bourse improved by nearly 50 per cent in volume, and 72 per cent in value over the previous trading session as 99.43 million shares changed hands at a total value of VND1.56 trillion.

Sacom Development & Investment Corporation (SAM) was the most active share in volume with 3.94 million shares changing hands.

Military Commercial Joint Stock Bank (MBB) tagged along with 3.86 million shares.

Becamex Infrastructure Development Joint Stock Company (IJC) finished third with 3.48 million shares traded.

Big winners on the city bourse today included Dream House Investment Corporation (DRH), Khang An Investment Real Estate Joint Stock Company (KAC), Hai Van Cement Joint Stock Company (HVX), Dai Thien Loc Corporation (DTL), Vinh Hoan Corporation (VHC), and Mien Trung Petroleum Construction Joint Stock Company (PXM). They all hiked 5 per cent to close at VND4,200, VND10,500, VND4,200, VND14,700, VND37,800, and VND6,300 respectively.

Hoang Anh Gia Lai Joint Stock Company (HAG) resumed its three-day winning streak, saving 4.97 per cent to close at VND31,700.

Truong Long Auto & Technology Joint Stock Company (HTL) eroded 4.6 per cent to close at VND8,300.

Vietnam Active Fund (VFMVFA) deleted 4.55 per cent to close at VND6,300.

Southern Seed Corporation (SSC) fell 4.49 per cent to close at VND36,200.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – levitated 10.23 points, or 1.98 per cent, to end at 527.63. Among its 30 members, 27 stocks advanced, 2 retreated and 1 remained unmoved.

Meanwhile, Hanoi’s HNX-Index of the smaller bourse in the north rebounded 2.78 per cent, or 2.1 points, to close at 77.51 points, with 263 winners, 44 losers, and 39 stocks treading water. More than 98.45 million shares changed hands at a total value of VND956.79 billion.

The UPCoM-Index of unlisted shares rose 0.14 per cent, or 0.05 points, to close at 35.07 points. A total of 5,902,764 shares changed hands at VND23.25 billion.

By Thuy Doan

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