Market finishes on high note

The VN-Index of Ho Chi Minh Stock Exchange (HoSE) climbed 0.48 points or 0.1 per cent to 465.65 points. The HNX-Index of Hanoi Stock Exchange (HNX) also gained 0.76 points or 0.98 per cent to 78.57 points.

Bidding for shares was largely ordered since the end of the session, mainly cheap speculative stocks.

Mineral stocks Tay Bac Minerals Investment (KTB), Nari Hamico Minerals (KSS), Bac Giang Exploitable Mineral (BGM), Binh Thuan Hamico Mineral (BGM) massively hit the ceiling on big bidding volumes.

Low price stocks Sacom Development and Investment Corp. (SAM), Vietnam Electricity Construction (VNE), PetroVietnam-Idico Long Son Industrial Park Investment (PXL), Petrovietnam Transportation Corp. (PVT) all sharply jumped with some millions shares matched each, being among top active stocks today.

On the HNX, top liquid stocks like PetroVietnam Construction (PVX), VNDirect Securities (VND), Kim Long Securities (KLS), Wall Street Securities (WSS), Vietnam Construction and Import-Export (VCG) all rallied with a million shares matched each, helping encouraging investors’ sentiment on the northern bourse.

Several pennies like South East Asia Hamico Export (KSD), Tasco (HUT), Song Da Investment and Construction (SDD), Vinacomin-Ha Tu Coal (THT) suddenly jumped with quite high trading volumes.

Meanwhile, investors largely kept cautious on a possibly rising inflation in May, after a fuel price hike last week and upcoming electricity price hike. VNDirect Securities (VND) yesterday even warned its clients that a rise in next sessions would probably a bull-trap other than a real recovery.

Besides, lending interest rates were rumored this morning to decline next month on government’s attempt to support economic growth, encouraging investors.

Overall, 156 stocks advanced on the HoSE today, compared with just 79 off. Advancers also doubled decliners 168 to 92 on the HNX.

Liquidity modestly improved on both bourses from yesterday’s weak level. Total trading volume was of 88.3 million shares worth VND1.36 trillion ($65.5 million) on the HoSE, reaching 67 million shares worth VND733 billion ($35.4 million) on the HNX.