Fri. Sep 22nd, 2023

Both national stock indices extended rises on February 25 after
lower-than-expected inflation data was released following the Tet
holiday and a rumour about the arrest of BIDV chairman proved to be
false.

On the Ho Chi Minh Stock Exchange, rises in blue chips
lifted the benchmark VN-Index, which closed the day up 1.26 percent to
483.69 points.

The VN30 tracking the top 30 shares by market
capitalisation and liquidity on the market was up higher at 558.17
points, an increase of 1.24 percent.

However, trading was
sluggish when both market volume and value were down by 50 percent from
the previous trading day (Feb. 22)’s levels, totalling 49.6 million
shares, worth 735.7 billion VND (35.2 million USD).

According to
analysts at FPT Securities Co, besides negative rumours that had
affected the market during previous trading sessions, no positive
information has appeared that is significant enough to help restore
investors’ confidence.

Property developers, particularly those
who focus on low-income housing, were the biggest gainers on the day
after Deputy Governor of the State Bank of Vietnam Nguyen Dong Tien
late last week said the central bank would direct commercial banks to
provide loans to buy houses at just 6 percent per annum for 15 years to
low-income earners.

Tan Tao Investment Industry Corp (ITA) was
again the most active code on total trades of 3.7 million shares,
closing flat at 8,400 VND each.

On the Hanoi Stock Exchange, the
HNX-Index finished the day’s session at 64.19 points, up just 0.11
percent over Feb 22’s close.

Total trading value reached almost
381.4 billion VND (18.2 million USD), with Sai Gon-Hanoi Bank (SHB)
being the most active code with 8.7 million shares changing hands. SHB
closed unchanged at 7,700 VND a share.-VNA

By vivian