March 5: Vietnam Stocks Soar on Bullish Sentiment

The benchmark VN Index closed the morning session with a gain of 18.45 points or 4.19%, standing at 458.05. As many as 86.75 million shares were changed hands this morning for VND1.679 trillion.

VN Index opened in the green with 4.36 million shares traded. The trading pace kept being fast and buyers were very aggressive from the early trade. Stock, from heavy weighs to pennies soared across the board, many stock limited up with blank on the offer quote.  

VN30 gained 22.42 points or 4.45% to stand at 525.96. Volume was 27 million worth of VND640.42 billion.

The market breadth was positive. Among 308 listed firms on HOSE, gainers outpaced losers by 277-22 and 9 stocks unchanged of which 222 hit upper limit and only 3 hit lower limit.

Market sentiment was very bullish and investors accepted to chase prices higher. World media recently posted many articles saying Vietnam is a good bet that helped boost local sentiment too. The local government also prioritizes to develop stock market.

Today was the first day that both two local bourses launched their afternoon trading hours. The market will close at 14:45 instead.

On the Hanoi Stock Exchange, the HNX closed up 3.97 points or 5.54% to 75.69. Trading was 31.76 million shares traded for VND396.2 billion.

Market breadth was broadly positive with 341 gainers, 43 losers and 11 flat issues.