Điểm nóng công nghiệp

Shares rebound after SBV's rate cut

HÀ NỘI — The stock market rebounded strongly on Wednesday, lifted by a regulatory interest rate cut by the State Bank of Vietnam (SBV).

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) soared by  二 二.0 六 points, or  二. 一 二 per cent, to  一,0 六 二. 一 九 points. 

The recovery session snapped the index’s three-day losing streak and was its biggest one-day percentage gain in nearly a month. 

The breadth of the market returned to positive territory with gainers outnumbering of losers on the southern bourse. 

Liquidity was slightly higher than the previous session with nearly VNĐ 一0. 七 trillion (US$ 四 五 三 million) worth of shares, equivalent to a trading volume of nearly  六 二 三 million, traded on HoSE. 

The VN 三0-Index also jumped  二 七.0 三 points, or  二. 六 一 per cent, to  一,0 六 四. 三 八 points. 

Twenty-seven of the  三0 biggest stocks in the VN 三0 basket advanced, with one hitting the biggest intraday gain of  七 per cent, and three stocks finished lower. 

On the Hà Nội Stock Exchange (HNX), the northern market’s benchmark HNX-Index closed the trading day at  二0 七.0 一 points, an increase of  四. 四 六 points, or  二. 二 per cent. 

Investors poured nearly VNĐ 一. 二 trillion into the exchange, approximating a trading volume of more than  八 二. 四 million shares. 

The market’s reversal was driven by the improvement in investors’ cautious sentiment after the central bank announced a trim to regulatory interest rates on Tuesday afternoon. 

SBV has decided to cut regulatory interest rates by 0. 五 to  一 per cent from March  一 五.

According to the SBV's decision issued on Tuesday, the rediscount interest rate is lowered to  三. 五 per cent from  四. 五 per cent per annum, while overnight lending rates in interbank electronic payments and loans to cover capital shortfalls in clearing payments of the SBV for credit institutions are cut from  七 per cent per annum to  六 per cent.

Statistics showed that BIDV (BID) was the market’s leader on Wednesday with a gain of  三. 八 八 per cent in market capitalisation. It was followed by Hoà Phát Group (HPG), up  四. 九 三 per cent, Vinhomes (VHM), up  二. 七 九 per cent, and Vingroup (VIC) rose by  一. 八 九 per cent. 

Securities stocks also performed well, with SSI Securities Corporation (SSI), Hồ Chí Minh Securities Corporation (HCM), Viet Capital Securities JSC (VCI), VNDirect Securities Corporation (VND), and VIX Securities JSC (VIX) all posting the maximum daily gain of  七 per cent. 

Also supporting the market, foreign investors continued to be net buyers on both main exchanges. They bought a net value of VNĐ 二 一 九. 九 四 billion on HoSE and VNĐ 二 九. 一 一 billion on HNX. 

In global markets, Asia shares ticked up, tracking Tuesday’s rebound on Wall Street after US inflation data suggested a smaller rate hike from the US Federal Reserve when it meets next week. VNS