ID :
59347
Thu, 05/07/2009 - 11:34
Auther :
Shortlink :
https://oananews.org//node/59347
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VN-Index joins strong world rally
Hanoi (VNA) - The VN-Index on the HCM City Stock Exchange on May 5 increased another 14.68 points to close at 351.32, a rise of 4.36 percent.
Volume nearly doubled from Monday's session to 25.1 million shares on a
turnover of 654.4 billion VND (36.4 million USD). Almost all stocks
continued to hit the ceiling of the regulated trading band, while advancers
outnumbered decliners by 157 to 16.
Hoang Anh Gia Lai Group (HAG) led the market with 1 million shares changing
hands, followed by VietFund Management (VFMVF1) with 930,000 shares.
Foreign investors were more active on May 5, responsible for a trading
volume of 3.3 million shares. They became net buyers of 2.1 million shares,
worth 73.4 billion VND (4 million USD).
VNDirect Securities Co said in its daily report that the current increases
were due to signs of a rally in the world economy and stability in the
domestic economy.
They were also related to the possibility that regulations would be loosened
on local stock exchanges, including extended daily trading time and the
ability for investors to open more than one account.
VNDirect quoted Quach Manh Hao, investment analysis director at Thang Long
Securities Co, as saying that strong increases on Monday- the first day of
trading after the market closed for the two-day holiday - facilitated a new
upward trend. Hao called 350 "a pause" before the VN-Index headed to 390.
Sai Gon Securities Inc (SSI) analysts said if the Index could surpass the
psychologically important zone of 353-366 in May, it could reach 400-420.
But the SSI suggested investors should keep a cautious attitude towards
current market developments, as a high index level could happen only with a
strong capital inflow and increases on the world stock market.
In Hanoi , the HASTC-Index advanced just over 5 percent to end at
127.59, an increase of 6.1 points. Trading volume nearly tripled over the
previous trading session to 24 million shares, with a total value of 612.1
billion VND (34 million USD).-Enditem
Volume nearly doubled from Monday's session to 25.1 million shares on a
turnover of 654.4 billion VND (36.4 million USD). Almost all stocks
continued to hit the ceiling of the regulated trading band, while advancers
outnumbered decliners by 157 to 16.
Hoang Anh Gia Lai Group (HAG) led the market with 1 million shares changing
hands, followed by VietFund Management (VFMVF1) with 930,000 shares.
Foreign investors were more active on May 5, responsible for a trading
volume of 3.3 million shares. They became net buyers of 2.1 million shares,
worth 73.4 billion VND (4 million USD).
VNDirect Securities Co said in its daily report that the current increases
were due to signs of a rally in the world economy and stability in the
domestic economy.
They were also related to the possibility that regulations would be loosened
on local stock exchanges, including extended daily trading time and the
ability for investors to open more than one account.
VNDirect quoted Quach Manh Hao, investment analysis director at Thang Long
Securities Co, as saying that strong increases on Monday- the first day of
trading after the market closed for the two-day holiday - facilitated a new
upward trend. Hao called 350 "a pause" before the VN-Index headed to 390.
Sai Gon Securities Inc (SSI) analysts said if the Index could surpass the
psychologically important zone of 353-366 in May, it could reach 400-420.
But the SSI suggested investors should keep a cautious attitude towards
current market developments, as a high index level could happen only with a
strong capital inflow and increases on the world stock market.
In Hanoi , the HASTC-Index advanced just over 5 percent to end at
127.59, an increase of 6.1 points. Trading volume nearly tripled over the
previous trading session to 24 million shares, with a total value of 612.1
billion VND (34 million USD).-Enditem
