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 Nearly 300 stocks soared to their ceiling prices on Dec. 5 in surprising rallies on the nation's stock exchanges.

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PostSubject: Nearly 300 stocks soared to their ceiling prices on Dec. 5 in surprising rallies on the nation's stock exchanges.    Tue Dec 06, 2011 1:14 pm

Nearly 300 stocks soared to their ceiling prices on Dec. 5 in surprising rallies on the nation's stock exchanges.

"The
market has seen its highest growth in the past three months," said
StoxPlus Financial Media Co's analyst Le Huu Quan. "Investor psychology
found relief in the expectation of new Government measures to get banks
to reduce their interest rates."

The domestic market management
team has also projected that inflation in December could rise at a
one-month rate of 0.5-0.6 percent.

"If December inflation does
not exceed this limit, the Goverment will achieve its target for the
year", said ACB Securities Co analyst Cao Tan Phat.

On the HCM
Stock Exchange on Dec. 5, the VN-Index rose by 1.9 percent to reach
391.19 points, with 220 out of 290 listed codes posting gains.

The
value of trades increased by 18 percent compared to the previous
session on Dec. 2, totalling 494.4 billion VND (23.2 million USD) on a
volume of nearly 35 million shares.

Many blue chips saw their
prices soar to the top of the allowed daily trading range, including
insurer Bao Viet Holdings (BVH); real estate developers Hoang Anh Gia
Lai (HAG), Vincom (VIC) and Hoang Quan (HQC); steelmaker Hoa Phat (HPG);
financial conglomerate Ocean Group (OGC); PetroVietnam Finance (PVF);
industrial park developer Tan Tao (ITA); and Saigon Securities Inc
(SSI). SSI was the most-active share, with around 1.85 million shares
changing hands.

Of the 10 leading shares by capitalisation, only food processor Masan (MSN) and Sacombank (STB) lost value.

On
the Hanoi Stock Exchange, the HNX-Index closed at 63.47 points, 2.9
percent higher than Friday's close. Both value and volume improved by
over 80 percent, totalling 391.3 billion VND (18.4 million USD) on a
volume of over 43 million shares. Advancers outnumbered decliners by
251-48.

With more than 6.4 million shares traded, Kim Long
Securities Co (KLS) became the most-active share nationwide and hit its
ceiling price on the day of 10,800 VND per share.

Despite
renewed optimism among domestic investors, foreign investors continued
to sell off shares on both exchanges on Dec. 5, unloading a combined net
of 47.7 billion VND (2.24 million USD) worth of share – 63.5 percent
more than during Dec. 2's session.

http://en.vietnamplus.vn/Home/Market-hits-threemonth-high/201112/22753.vnplus
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Nearly 300 stocks soared to their ceiling prices on Dec. 5 in surprising rallies on the nation's stock exchanges.
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