VN-Index jumps most in three months

Vietnam’s benchmark VN-Index rebounded the most in three months on March 10 as investors bought heavily with confidence that stocks dropped excessively after the central bank tightened monetary policy to control rising inflation.



The gauge of 281 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange jumped 2.55 percent, or 11.98 points, to close at 482.49 points.



Among the index members, 233 advanced, 28 retreated, while 25 remained unchanged.



Trading on the southern trading floor improved by 48 percent in volume and 33 percent in value over the previous trading session as 46.2 million shares changed hands at a value of 977 billion dong.



Vietnam Mechanization Electrification & Construction Joint Stock Company (MCG) was the most active share in volume with 2.41 million shares changing hands.



It was followed by Vietnam Joint Stock Commercial Bank for Industrial and Trade or Vietinbank (CTG) with 2.15 million shares.



Saigon Securities Inc. (SSI), the country’s largest brokerage, dropped to the third rank with 1.39 million shares changing hands.



Gainers on the city bourse included Sao Ta Foods Joint Stock Company (FMC), Mirae Joint Stock Company (KMR), and PetroVietnam Transportation Corporation (PVT). They all escalated the daily maximum allowed limit of 5 percent to 12,600 dong, 6,300 dong, and 8,400 dong respectively.



Vung Tau Construction & Real Estate Joint Stock Company (VRC) recovered 4.98 percent to 23,200 dong.



Vinacaf

Tags: Vietnam business, Vietnam business news, vietnam enterprices