Off the wire
• China becomes 2nd largest VC destination  • Obama urges Britons to stay in EU  • Indian stocks close marginally lower  • Myanmar FM stresses adopting people-centered foreign policy  • Eurozone finance chiefs assess Greece's bailout progress  • Urgent: At least 6 killed in suicide bomb attack at Shiite mosque in Iraq's Baghdad  • "Shanghai Five" nations celebrate 20th anniversary of trust treaty in Kyrgyzstan  • China welcomes resumption of Yemen peace talks in Kuwait  • DR Congo says over 4 bln USD invested in social plan since 2012  • Singapore stocks end down 0.69 pct  
You are here: 　 Home

Vietnam index surpasses 590-point threshold

Xinhua, April 22, 2016 Adjust font size:

The Vietnam Stock Index or VN-Index, a capitalization-weighted index of all the companies listed on the Ho Chi Minh City Stock Exchange, closed at 592.48 points on Friday.

The index increased by more than 16 points in the last trading day of this week to finish at the new threshold of 590 points.

According to stock experts, large-cap stocks were a main contributing factor to the uptrend of the index this week.

Energy stocks continued to see high prices amid higher global oil prices. Among energy stocks, PetroVietnam Gas Corp (GAS) and PetroVietnam Drilling and Well Service Corp (PVD) got the strongest gains.

The property sector also made good gains after official data from the Vietnam Real Estate Association (VNREA) showed that the sector made significant improvements during the first quarter, said Bao Viet Securities Corp (BVSC). Among property firms, Vingroup JSC (VIC), An Duong Thao Dien JSC (HAR), Saigon Thuong Tin Real Estate JSC (SCR), Hoang Quan Consulting-Trading-Service Real Estate Corp (HQC) were the best gainers.

Other stocks like banker Bank for Investment and Development of Vietnam, steel producer Hoa Sen Group, and sugar firm Bien Hoa Sugar Joint Stock Company also helped lift the market.

The VN-Index closed at 592.48 points on Friday, up 16.75 points, or 2.91 percent, from the previous trading day's close. From the previous week's closing session, the index won 12.62 points, or 2.17 percent.

During the week, the index experienced two ups and two downs, posting the highest level of 592.48 points on Friday, and the lowest level of 568.28 points on Tuesday. In comparison, it ranged between 578.02 points and 579.86 points in the previous week.

About 140.754 million shares worth 2.758 trillion Vietnamese dong (VND) (126.22 million U.S. dollars) changed hands on the Ho Chi Minh City Stock Exchange on Friday, an increase of 34.36 percent in volume and 38.82 percent in value over Thursday.

Investors should keep cautious, maintain a balance between the proportion of shares and cash and test the stability of the threshold in upcoming trading days, according to Maybank Kim Eng Securities Company. Enditem