May 25: Vietnam Stocks Soar on Rate Cut Hope

The benchmark VN Index added 10.46 points or 2.45% to 437.38. Volume rose 34% to 77.8 million shares worth of VND1.29 trillion.  This week, the market was so much volatile that market soared on Monday and Friday but posted heavy losses on the other days.

Put-through trading contributed 20.65 million shares worth VND446.86 billion. We saw 14.86 million STB shares changed hands for VND352.35 billion. Other heavy put-through deals included 1.1 million PDR shares, 1 million HQC shares and 0.9 million GMD shares changed hands.

The market breadth was broadly positive on the primary bourse where 246 stocks advanced, 37 tumbled, 26 closed unchanged.

The VN30 Index gained  12.69 points, or 2.53%, to 514.27.

For the week, VN Index gained 2.43% or 0.56% while VN30 index rose 9.66 points or 1.91%.

The market opened in the green as bottom fishing efforts were stronger. The market went on with more buyers came in while sellers were cautious. Market ended the morning session with majority of share prices hit the ceiling.

Stocks from blue chips to pennies climbed up, however, it should be noted that heavy weighs MSN still unchanged, GAS, VIC posted marginal gain. 

On the Hanoi Stock Exchange, the HNX index gained  2.4 points or 3.26% to 76.06. Trading volume rose 1.2% to 52.16 million shares worth VND535.5 billion.

The market breadth was positive  on the northern exchange. Among index members,  284 rallied, 38 tumbled, 21 closed unmoved, and the rest were untraded.

For the week, HNX index  gained 2.25 points or 3% despite rollercoaster ride.

Market sentiment changed from very negative to quite positive today. Market is expecting the Central bank to cut interest rate by at least 1%. HSBC released a report saying that it expected the central bank to cut rate within 2 weeks.