Blue chips lead share rebound

HA NOI – The VN-Index rose 3.39 per cent to 443.69 points when trading opened on the HCM City Stock Exchange yesterday.

Advancers outnumbering decliners 243 to 11.

Twenty six million shares valued at VND593.9 billion (US$30.4 million) had changed hands by 9.50 am.

Most blue chips scored significant increases.

Sacombank (STB), was up VND2,500, VietinBank (CTG), VND1,000, and Bao Viet Holdings (BVH), VND3,000.

Shares in property traders such as Hoang Anh Gia Lai (HAG), Vincom (VIC) and Kinh Bac Corp (KBC) increased about VND2,000 each.

Financial service provider Stoxplus Corporation analyst Truong Tiep said the blue-chip rebound that began last Friday was a postive signal for this week's market.

The increased capital pumped into these stocks saved the market from an indefinitive statement and promised a market rally before a long holiday this week, he said.

In Hař Noi, the HNX-Index had rallied 5.11 per cent to 124.33 points at 10.05am with 291 of 321 listed shares having gained ground.

But volume was modest - 16.4 million shares worth 377.4 billion.

Today's urgent meeting of the Bank of Japan that is expected to loosen monetary policy as well as optimistic interpretations of Fed Reserve Chairman Ben Bernake pledge to sustain economic recovery appears to have restored confidence. – VNS

To be updated