|On the HCM City Stock Exchange, the VN30 Index, tracking the 30 largest shares by market value and liquidity, rose by 0.87 per cent to end at 577.69 points. — Photo ndh
HA NOI (VNS) — The surge in large-cap shares drove the national stock market up yesterday.
The stocks jumped after the Government asked the State Bank of Vietnam to reduce interest rates by 1 to 1.5 per cent from between 9 and 11 per cent for medium-term and long-term loans, which would encourage businesses to improve their operations.
On the HCM City Stock Exchange, the VN30 Index, tracking the 30 largest shares by market value and liquidity, rose by 0.87 per cent to end at 577.69 points. The basket saw advancing stocks heavily outnumbering the losing stocks by 24 to one, while five others remained flat.
Among the 24 advancing stocks, FLC Group (FLC) rose by 3.88 per cent to VND10,400 and doubled its traded shares to 11.5 million to remain as the most active code on the market.
HCM City Infrastructure Investment JSC (CII) was the stock that was traded the most after FLC in the top-active-stocks chart with 9.7 million of its shares being traded for VND19,300 per share, reflecting an increase of 4.32 per cent.
Most of the bank stocks in the market also increased their value. However, Sai Gon Thuong Tin Bank (STB), became the only declining stock in the VN30 basket, dropping slightly by 0.53 per cent to VND18,500 and Eximbank (EIB) remained flat.
As a result, the VN-Index was up 0.95 per cent and closed at 548.11 points. On the market, advancing codes nearly tripled, compared to the declining ones by 160 to 56 and 92 others remained unchanged.
The market's trading volume jumped by 34.7 per cent to 97 million shares, worth VND1.61 trillion (US$76.8 million).
On the Ha Noi Stock Exchange, the HNX30 Index increased by 1.17 per cent to finish at 155.1 points. The advancing stocks in the northern market also heavily outnumbered the losing ones by 21 to two. Six others remained flat and one did not trade on the market.
Large-cap shares, such as KLF Investment JSC (KLF), rose to become the most active stock, with more than 10 million shares being traded. Its price increased by 5.81 per cent to VND9,100.
As a result, the HNX-Index rose by 0.82 per cent to finish at 82.33 points. Advancing stocks were double the number of losing ones at 133 to 60, while 170 stayed flat.
The market traded a total 40.3 million shares, showing an increase of 31 per cent. However, its trading value fell by 3 per cent to VND423 billion ($20.1 million).
However, foreign investors turned into net sellers yesterday, with a net selling value of VND48 billion ($2.28 million) on the HCM market and a net selling value of VND6 billion ($285,700) in Ha Noi. — VNS