Fri. Feb 23rd, 2024

Property shares hit the ceiling, both indices up

HA NOI (VNS)- Both national stock indices rose this morning despite the fact that only one third of shares posted gains.

On the HCM City Stock Exchange, rises in blue chips lifted the benchmark VN-Index, which closed this morning up 0.9 per cent to 481.97 points.

The VN30 tracking the top 30 shares by market capitalisation and liquidity on the market was up higher at 557.67 points, an increase of 1.15 per cent.

Trading was modest when almost 35.6 million shares, worth VND532.3 billion (US$25.5 million), changed hands.

Property developers, particularly those who focus on low-income housing, were the biggest gainers 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 per cent per annum for 15 years to low-income earners.

Shares in Duc Long Gia Lai Group (DLG), Hoa Binh Construction and Real Estate Corp (HBC) and NBB Investment Corp (NBB) hit the ceiling prices this morning.

On the Ha Noi Stock Exchange, the HNX-Index finished at 64.17 points, up just 0.08 per cent over yesterday’s close.

Total trading value reached almost VND243 billion ($11.6 million). – VNS

By vivian