Investor optimism extends rally

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Báo ĐCS English - 32 month(s) ago 3 readings

Stocks continued to soar on the nation's stock exchanges on Mar 2, with the combined value of trades reaching 2 trillion VND (95.2 million USD).

Stocks continued to soar on the nation's stock exchanges on Mar 2, with the combined value of trades reaching 2 trillion VND (95.2 million USD).

On the HCM Stock Exchange, the VN-Index rose by 2.72 percent to close the session at 439.60 points.

Advancers overwhelmed decliners by 207-56, with over 90 codes rising by the daily limit of 5 percent, including blue chips like Bao Viet Holdings (BVH), Masan Group ( MSN ), Ocean Group (OGC), PetroVietnam Finance (PVF), Vincom (VIC) and Saigon Securities Inc (SSI).

Of the shares tracked by the VN30 Index – which measures the 30 leading shares by capitalisation and liquidity – 28 closed higher, lifting the VN30 by another 2.55 percent to 503.54 points.

The volume of trades was off by nearly 9 percent from Mar. 1's pace, but continued moderately active at 81.7 million shares. The value of trades reached 1.24 trillion VND (59 million USD).

Military Bank (MBB) was again the most-active share on the HCM City bourse, with over 14 million units changing hands. MBB also rose to its ceiling price.

On the Hanoi Stock Exchange, with over 60 percent of codes posting gains, the HNX-Index jumped by another 3.08 percent to end the session at 71.72 points. The value of trades rose by 20 per cent to nearly 704.3 billion VND (33.5 million USD), while volume increased 15 percent to 73.8 million shares.

Hanoi Investment General (SHN) surprised the market, becoming the most-active shares on the day with over 8 million traded – dethroning Hanoi Housing Bank (HBB), which had led trading for several sessions.

Although most market forecasts made by securities analysts on the first day of the week (Feb.27) predicted that shares would fall sharply this week, both VN-Index and HNX-Index closed up in four out of five sessions.

Many brokers said short-term money flows had increased strongly in recent days as investors continued to be confident in a further uptrend.

Foreign investors, meanwhile, returned to being net buyers in HCM City, picking up shares worth a net of 44.8 billion VND (2.1 million USD), but they were net sellers in Hanoi by a narrow net of 3 billion VND (143,000 USD) worth of shares./.

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