Market ends week on a high

Ho Chi Minh Stock Exchange’s (HoSE) VN-Index soared 11.65 points or 2.72 per cent to close at 439.6 points. Hanoi Stock Exchange’s (HNX) HNX-Index saw even stronger gain of 2.14 points or 3.08 per cent to 71.72 points.

Cash flows increased, with demand for shares outrunning supply throughout the session. Matching values reached VND1.11 trillion ($53.6 million) on the HoSE, with trading hitting VND1.24 trillion ($59.9 million).

HNX’s liquidity hit 73.8 million shares worth VND704.3 billion ($34 million).

Major stocks largely hit the ceiling. Masan Group (MSN), Vincom Corp. (VIC), Bao Viet Holdings (BVH) along with financial stocks Military Bank (MBB), Saigon Securities Inc. (SSI), PetroVietnam Finance (PVF) saw large volumes of bidding orders outstanding at the close. Securities company stocks VNDirect Securities (VND), PetroVietnam Construction (PVX), Kim Long Securities (KLS) were of the same rallying momentum.

VN30 soared as high as 12.53 points to 503.54 points.

Banking stocks saw continuing huge trading volumes. MBB’s matching volume reached more than 14 million shares, while Eximbank having 5.4 million shares matched.

Meanwhile, MBB and Sacombank (STB) continued being strongly purchased by foreign investors, with more than 3 million units of the two stocks matched.

Besides MBB and EIB hitting the ceiling Vietinbank (CTG) 3.56 per cent jumped, Vietcombank (VCB) 2.11 per cent and STB added 0.91 per cent. Asia Commercial Bank (ACB) hit the ceiling again with up to 2.7 million shares matched on the HNX. Habubank (HBB) and Saigon-Hanoi Bank (SHB) hit the ceiling as well.

Penny stocks also soared. Even stocks of weak-performed companies like SME Securities (SME), Vinashin Petroleum Investment and Transport (VSP), Asia-Pacific Securities (APS) Haiphong Securities (HPC) rallied with large matching volumes.

At the closet, up to 207 stocks gained on the HoSE compared with 64 losing and 37 unchanged. Some 247 stocks advanced on the HNX, overwhelming 64 off and 84 ending flat.