Vietnam index reaches new 10-year high

Source: Xinhua| 2018-01-26 20:17:59|Editor: Yurou
Video PlayerClose

HO CHI MINH CITY, Jan. 26 (Xinhua) -- The Vietnam Stock Index or VN-Index, a capitalization-weighted index off all the companies listed on the Ho Chi Minh City Stock Exchange, soared this week, surpassing the 1,100-point level to reach the new 10-year peak of 1,115.64 points on Friday.

Transaction activity was interrupted on Tuesday and Wednesday due to a technical crash on the bourse. The index posted strong gains during the remaining days.

According to local stock analysts, the incident did not much affect investors' investment. Large amounts of cash flew to the bourse right after it recovered operation on Thursday.

Shares of banking and energy sectors recorded strong increase in prices to support the bourse. Bank for Investment and Development of Vietnam (BID), Vietcombank (VCB), PetroVietnam Gas Joint Stock Corporation (GAS), and PetroVietnam Low Pressure Gas Distribution JSC (PGD) were among the biggest gainers.

Foreign traders continued strong net buying during the week. On Friday alone, they bought over 28 million shares worth over 1.39 trillion Vietnamese dong (VND) (around 62 million U.S. dollars).

The index closed at 1,115.64 points on Friday, up 11.07 points, or 1 percent. From the previous week's closing session, the index won 53.57 points, or 5.04 percent.

During the week, the index got three ups, posting the highest level of 1,115.64 points on Friday, and the lowest level of 1,087.42 points on Monday. In comparison, it ranged between 1,034.69 points and 1,063.47 points in the previous week.

About 292.969 million shares worth 9.302 trillion Vietnamese dong (VND) (414.99 million U.S. dollars) changed hands at the southern HCM City Stock Exchange, a decrease of 74.39 percent in volume and 53.3 percent in value against Thursday.

Over 1.069 billion shares worth 31.237 trillion Vietnamese dong (over 1.391 billion U.S. dollars) were traded on the bourse this week.

Most of traders expressed optimism about the trading activity on the bourse in the next trading stage. They predicted that the index will surpass the historical level of 1,171 points in 2007, to reach 1,250 points by the year-end.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011100001369275161