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Roundup: Vietnam's Hanoi stock market bounces up on investors' improved mood

Xinhua, July 10, 2015 Adjust font size:

Vietnam's capital Hanoi stock market stopped three consecutive falling sessions to bounce up on Friday on improved mood of investors.

The HNX-Index, the benchmark of the Hanoi Stock Exchange, closed at 88.24 points on Friday, up 0.32 points, or 0.37 percent, against the previous trading session.

The HNX-Index gained 0.54 points or 0.61 percent against last Friday's closing session.

Compared to the last trading session in 2014, as of Friday, the HNX-Index posted an increase of 5.26 points or 6.34 percent.

During the week, the index witnessed two ups and three downs, with the highest level of 89.47 points on Monday and the lowest level of 87.92 points on Thursday.

By comparison, in the previous week, the HNX-Index fluctuated between 84.94 points and 87.7 points.

A total of 55.684 million shares worth 662.357 billion Vietnamese dong (30.66 million U.S. dollars) were traded at the Hanoi Stock Exchange on Friday, an increase of 16.35 percent in volume and 10.55 percent in value against the previous trading session.

Prices of 92 stocks went up; 81 stocks fell down, while 76 stocks remained unchanged.

According to local analysts, the stock market jumped up on Friday on improved feelings of investors.

Earlier, investors' fear of possible influence from global stock markets has eased down as stock markets globally have witnessed strong recovery during the previous trading session.

Similar concern about China's stock market also disappeared when Chinese shares staged a strong two-day rebound after moves by its government to bolster the market.

According to Le Duc Khanh, strategy director of local Maritime Bank Securities Company, during the week, the plunge of China's stock market has made sentiment of Vietnamese investors shaky.

In order to avoid risks, many Vietnamese investors started selling out during mid-week sessions, said Khanh.

However, when the China's stock market rebounded for a second consecutive day on Friday, the HNX-Index stopped falling trend to spring up.

Moreover, the rally in the HNX-Index on Friday has been also supported by the returns of banking shares after several recent adjustment sessions, assessed insiders. Endi