Stocks Take Liking to Widening of Daily Trading Band

All 153 stocks on the Ho Chi Minh City Stock Exchange (HoSE) advanced yesterday, the first trading session since the State Securities Commission doubled the daily trading band to 2 percent.

At the first trading session since the new daily trading band is applied

The VN-Index gained 9.3 points to close at 542.3.
While there were buyers for around 30 million shares, there were only sellers for 2 million.
Over 7.5 million shares worth VND666 billion (US$41.6 million) changed hands yesterday, five times higher than last Friday.
An investor at Saigon Securities Incorporation said if the big gap between supply and demand continued for a few more days, the government might continue to widen the band.
But an analyst said the current bands of 2 percent at the HoSE and 3 percent at the Ha Noi Securities Trading Center were reasonable.
The old bands of 5 and 10 percent should be reapplied only after the balance between supply and demand was restored, he added.
In Ha Noi, the HASTC-Index climbed by 5.04 points to close at 198.33. Around 1.7 million shares worth VND87.56 billion were traded. 

By Han Ni – Translated by Yen Chuong

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