Steel prices have risen four times this year, resulting in a surge in the share prices of all listed steel making companies.
The total transaction value on the country's two stock exchanges on March 5 was VND3 trillion ($154.6 million). HDG surpassed NTL to become the most valuable shares on the HCM City Stock Exchange (HoSE) at VND155,000 ($7.98) on the morning of March 5.
 |
| Steel shares on the rise (Photo by Huu Nghi) |
The VN-Index closed transactions on April 5 with an increase of 4.31 points totaling 514.79 points. At the end of the transactions, there were 133 codes with increased prices, 48 codes with decreased prices and 39 codes with unchanged prices.
Steel prices have risen four times this year with a total increase value from VND1.2 million ($63) to VND2 million ($105) per tonne. On April 3, steel manufacturers in the South increased their factory prices by VND500,000 ($26.3) per tonne.
This provided a very good opportunity for enterprises who have a huge amount of steel in their stocks. As a result, share prices of steel-making companies with codes VIS, PHT, TLH, SCM, HLA, and HPG have all gone up.
HPG shares went up VND2,000 ($0.1) per share for a total of VND67,000 ($3.52) compared with the ceiling price of VND68,000 ($3.57) per share.
Although the VN-Index is on a steady rise since it hit 500 points last week, transaction amount remains low. Transactions totaled 44.73 million shares worth VND1.727 trillion ($90 million).
There were 45 codes with increased price at maximum rate this morning including DXV, KMR, KSH, KSS, LAF, LBM, MCG and MCV.
Bluechip share prices increased slightly. VNM went up VND1,000 ($0.05), SSI went up VND300 ($0.01).
FPC, RDP, and VPH share prices all went down. LHG share prices of Long Hau JSC decreased by VND1,500 ($0.07) per share or VND67,500 ($3.47) at closing time.
The HNX Index closed at 167.18 points, an increase of 3.07 points or 1.87% compared with yesterday.
At closing time, there were 203 codes with increased prices, 25 codes with unchanged prices and 54 codes with their highest prices including BKC, ICG, PGS, PLC, PVA, PVX, SHN, VGS, and TMX.
PVX had the strongest increase at VND 26,300 ($1.35) with 6.37 sold units. VCG prices went up VND1,500 ($0.07) per share or VND54,900 ($2.82).
