Vietnam index surpasses 820-point threshold

Source: Xinhua| 2017-10-13 18:52:25|Editor: liuxin
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HO CHI MINH CITY, Oct. 13 (Xinhua) -- The Vietnam Stock Index or VN-Index, a capitalization-weighted index of all the companies listed on the Ho Chi Minh City Stock Exchange, witnessed strong rally, surpassing the 820-point threshold this week to close at 820.95 points on Friday.

The bourse rebounded this week when the index witnessed a five-day rally with the growth of nearly 1.5 percent.

According to local stock analysts, the strong rally of large-cap stocks became most supportive factor to the bourse's uptrend this week.

Saigon Beer - Alcohol - Beverage (SAB), VinGroup (VIC), PetroVietnam Gas (GAS), Bao Viet Holdings (BVH), Masan Group (MSN), , Novaland Investment Group (NVL), FLC Faros Construction, and BIDV (BID) were biggest gainers.

Information of the third-quarter earnings results of listed companies gradually being released also spurred investors' to trade stocks during the week, said insiders.

The index closed at 820.95 points on Friday, up 5.08 points, or 0.62 percent. From the previous week's closing session, the index won 10.3 points, or 1.27 percent.

During the week, the index experienced five straight ups, posting the highest level of 820.95 points on Friday, and the lowest level of 808.96 points on Monday. In comparison, it ranged between 798 points and 807.8 points in the previous week.

About 154.124 million shares worth 3.349 trillion Vietnamese dong (VND) (149.18 million U.S. dollars) changed hands at the southern HCM City Stock Exchange on Friday, an increase of 3.29 percent in volume, but a decrease of 4.68 percent in value against Thursday.

Over 795.812 million shares worth 17.237 trillion Vietnamese dong (767.55 million U.S. dollars) were traded on the bourse this week, an increase of 16.75 percent in volume and 17.84 percent in value against the previous week.

Foreign investors turned as net sellers this week. On Friday alone, they bought nearly 5 million shares, but sold over 6.663 million shares.

The index will maintain the uptrend in the next trading week, predicted local securities companies.