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Roundup: Vietnam's Hanoi stock market bounces on positive supporting information

Xinhua, October 23, 2015 Adjust font size:

Vietnam's capital Hanoi stock market bounced back on Thursday to continue upward trend after falling on Tuesday and Wednesday thanks to impacts of positive supporting information.

Compared to the final session on last Friday, the HNX--Index, the benchmark of the Hanoi Stock Exchange, gained 0.37 points or 0.46 percent.

During the week, the index witnessed three ups and two downs, ranging between 80.8 points to 81.55 points.

In comparison, in the previous week, the HNX--Index fluctuated between 80.62 points and 81.18 points.

This week, on Friday, the HNX--Index closed at 81.55 points on Friday, up 0.14 points, or 0.17 percent, against the previous trading session.

A total of over 38.369 million shares worth some 465.232 billion Vietnamese dong (some 21.34 million U.S. dollars) were traded at the Hanoi Stock Exchange on Friday, a decrease of 3.38 percent in volume and an increase of 8.06 percent in value against the previous trading session.

Prices of 112 stocks went up; 82 stocks fell down, while 66 stocks remained unchanged.

According to analysts, the upward trend was re--established on Thursday as the capital inflow began to our into the market. However, it was not until the end of Friday morning trading session that the trend became clear.

The positive supporting information included business reports in the third quarter of 2015, recovery of crude oil price, as well as the rise of the stock markets in Europe and the United States among others, said local insiders.

Experts from Vietnam Commercial Bank (Vietcombank) Securities Company (VCBS) were quoted on local VNExpress online newspaper on Friday as saying that in the fourth quarter this year, the Hanoi stock market is forecast to witness "impressive growth waves."

Vietnam's stock market in general and Hanoi stock market in particular, is seen as one of the most profitable markets in Asia, said VCBS experts, adding that foreign analysts also keep an optimistic view on growth prospects of the market in the fourth quarter.

According to insiders, in the context that other investment channels such as gold, foreign currencies, real estate and saving are not attractive enough, stock will remain a hook among local investors in the last quarter this year, with top attention on banking, infrastructure construction, logistics and exports shares.

Compared to the last trading session in 2014, as of Friday, the HNX--Index has decreased by 1.43 points, or 1.72 percent. Enditem