Real estate and banking shares have become the hottest stocks on the Vietnamese stock market after the State Bank of Vietnam signaled a loosening of monetary policiesto boost lending to realty developers and homebuyers.
By the close of the Thursday session, the benchmark VN-Index of the Ho Chi Minh Stock Exchange (HoSE) rose 6.52 points (1.42 percent) to 465.26 points.
The total trading volume rose sharply to 106 million units, with a total transaction value of over VND1.76 trillion.
The VN30 index shot up with an increase of 9.65 points (1.83 percent) to 537.28 points.
The total trading volume and value reached 35.1 million units and VND811 billion, respectively.
On the Hanoi Stock Exchange (HNX), the benchmark HNX-Index rose 1.03 points to 78.54 points. Liquidity in this market increased sharply from the previous session.
Total trading volume and the value of the market rose 121.7 million shares and VND1.185 trillion, respectively.
Most real estate stocks in the VN30 group continued to hit the ceiling prices, including shares subject to delisting warnings due to heavy losses like QCG of Quoc Cuong Gia Lai. The share hit the ceiling at VND12,300 per share with no remaining surplus stock.
According to HoSE, QCG shares today are placed under warnings due to negative post-tax profits of VND39.83 billion in 2011.
Other realty stocks, including DIG, ITA, KDH and SJS, peaked at their ceiling prices for another session with respective price increase of VND900, VND400, VND1,000, and VND1,700 per share.
In the morning session, most stocks rose strongly. In particular a strong cash flow, excited by the latest decision from the State Bank of Vietnam, was channeled into real estate stocks.
Most real estate stocks are heading up seamlessly from the morning session to their highest price, including DIG (4.6 percent), HDC (5.0 percent), ITA (4.3 percent), LCG (4.4 percent), NTL (4 percent), SJS (4.8 percent), and TDH (4.9 percent).
In addition, bank stocks also rose more sharply than the average rate of the market. Cash flow is returning a strong market.
According to technical analysis, both the VN-Index and HNX-Index are making breakout points and are ready to rise.
