Shares rise on rate cut decision

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VietNam News English - 31 month(s) ago 4 readings

Shares rose on both national stock exchanges with investors upbeat on news that the central bank yesterday cut the deposit interest rate ceiling from 13 to 12 per cent per annum

HA NOI – .

On the HCM City Stock Exchange, the VN-Index closed this morning's session higher at 454.39 points, up 0.79 per cent from yesterday.

Market value stood high at more than VND1 trillion (US$47.6 million) on a volume of 64.3 million shares.

Advancers outnumbered decliners by 163-41, of which 52 hit the daily limit of a 5 per cent rise.

Despite sluggish trading on blue chips, 17 of the 30 leading stocks by market value and liquidity rallied, pushing the VN30 Index up 0.88 per cent to nearly 522 points. Only seafood company Hung Vuong Co (HVG) declined 3.3 per cent while others closed unchanged.

SACOM Development and Investment (SAM), traded at the ceiling price of VND7,300, was temporarily leading trades on the southern bourse with 3.8 million shares changing hands.

On the Ha Noi Stock Exchange, the HNX-Index rose 1.31 per cent to close this morning at 76.40 points.

Trading value reached VND539.8 billion ($25.7 million) as 54.5 million shares were traded.

Gainers more than tripled losers, with Habubank (HBB) still being the most heavily traded stock nationwide on a volume of nearly 6.5 million shares. HBB finished this morning up 1.5 per cent at VND6,900. – VNS

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