Market finishes week on high note

The Vietnam’s benchmark VN-Index rose the most in four months on May 28, as investors regained confidence after receiving positive information about global markets.

VN-Index, a measure of 230 companies and 4 close-ended funds listed on the Ho Chi Minh Stock Exchange, gained as much as 15.83 points, or 3.18 percent, to wrap week at 512.99.

Only 8 stocks fell among the index members, with 218 advancing, and 8 remaining unchanged. Trading volume improved as more than 58.9 million shares being traded, worth VND1.88 trillion.

Saigon Securities Inc. (SSI) held unto the top position of most active shares by volume, with more than 3 million shares changing hands at VND38,100, up 2.97 percent.

It was followed by Saigon Thuong Tin Commercial Bank or Sacombank (STB) with 2.3 million shares.

Vietnam Electricity Construction Joint Stock Corporation (VNE) came third with 1.49 million shares. The company closed 4.69 percent higher.

Eight companies saw their share values increase to the daily maximum allowed limit of 5 percent today, including Viet Nhat Seafood Corporation (VNH), Vinpearlland Tourism Joint Stock Company (VPL), Domesco Medical Import Export Joint Stock Corporation (DMC), and Ha Tien Transport Joint Stock Company (HTV).

At the smaller bourse in the north, the HNX-Index climbed 6.88 points or 4.3 percent to 166.71. Trading volume was 44.8 million shares worth VND1.42 trillion.

After being net buyers for five straight sessions on Hanoi’s trading floor, foreign investors became net sellers this morning, selling a total worth VND2.11 billion.

Meanwhile, the UPCoM-Index of the unlisted stocks slid 0.23 points to 48.72. Around VND3.72 billion were spent on 230,428 shares.

Globally, the Down Jones industrial index rose 2.85 percent, or 284.54 points, to close at 10,258.99. The S&P 500 index gained 3.29 percent, or 35.11 points, to 1,103.06 while Nasdaq Composite index jumped 81.80 points, or 3.73 percent, to 2,277.68.

The UK’s FTSE 100 index and German DAX index added 3.1 percent while France’s CAC 40 index advanced 3.4 percent.

In Asia, Japan’s Nikkei 225, Hong Kong’s Hang Seng and China’s Shanghai Composite also gained 1.2 percent.

By Linh Nga

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