Vietnamese stock markets rise on US actions

September 14, 2012 | 17:00

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Vietnam’s stock markets boosted up Friday following the announcement by America’s central bank to kick-start the US economy, with liquidity modestly improved.

The U.S. Federal Reserve announced Thursday that they will spend $40 billion a month on bond purchases in an effort to ignite the economy.

Stock markets in the world soared after the news, positively affecting Vietnamese markets Ho Chi Minh Stock Exchange (HoSE)’s VN-Index gained 7.51 points or 1.92 per cent to 398.87 points.

Hanoi Stock Exchange (HNX)’s HNX-Index advanced 1.12 points or 1.93 per cent to 59.23 points.

Stocks jumped right from the session’s opening. Small-cap and mid-cap speculative stocks massively hit the ceiling.

Real-estate and construction stocks Tan Tao Investment Industry Corp. (ITA), Licogi 16 (LCG), Vietnam Electricity Construction (VNE), Investment and Trading Of Real Estate (ITC) jumped to ceiling prices with big bidding volumes. Even Kinh Bac City Development Share Holding Corp. (KBC), the stock had been sold strongly before, also hit the ceiling.

Speculative mineral stocks Tay Bac Minerals Investment (KTB), Nari Hamico Minerals (KSS), Duong Hieu Trading and Mining (DHM) turned head to soar.

As high as 201 stocks ended higher today, among which 86 stocks hit the ceiling. Just 43 stocks ended down today and 65 stocks were unchanged.

Among large-cap stocks, Vinamilk (VNM), Bao Viet Holdings (BVH), Song Da Urban & Industrial Zone Investment and Development (SJS), PetroVietnam Gas (GAS) gained the most. Also, Vietcombank (VCB) and Vietinbank (CTG) hit the ceiling.

Several large-cap stocks saw modest gains. Eximbank (EIB) added 0.68 per cent, Military Bank (MBB) 1.47 per cent while Sacombank (STB) unchanged.

HNX meanwhile was led by pennies. Very low priced stocks like Ha Noi Investment General Corp. (SHN), Thai Hoa Viet Nam Group (THV), IDJ International Financial Investment and Enterprise Development (IDJ), South East Asia Hamico Export (KSD) were bid the most.

Leading stocks like VNDirect Securities (VND), Kim Long Securities Corp. (KLS), Saigon-Hanoi Bank (SHB) saw modest gains.

Liquidity was modestly improved. Matching value reached VND850 billion ($41.1 million) on the two bourses. HoSE’s liquidity was of 46.5 million shares worth VND675.8 billion ($32.8 million), while the figure standing at 32.9 million shares worth VND257.7 billion ($12.4 million) on HNX.