VN-Index Claws Its Way Back above 930

An article about Viet Nam’s bright economic outlook in the international monthly magazine Afrique-Asia helped push the VN-Index up a slight 4.28 points to end today’s session at 934.74, the first time it has exceeded 930 points this month.

Gains were made by five of the ten biggest stocks. Petro Vietnam Drilling and Well Services (PVD) rose VND3,000, Pha Lai Thermal Power (PPC) went up VND500, Saigon Cables & Telecommunication Materials (SAM) added VND1,000 to end at VND145,000, Vinamilk (VNM) rose VND1,000 to VND166,000 and Sacombank climbed VND1,000 to close at VND56,500.

Lighter gains were made by 29 stocks including the blue chips Kinh Do Food (KDC) and Binh Minh Plastic (BMP).

More action was seen at the lower end of the market, where several small caps ended the session limit up like Lu Gia Mechanical Electric (LGC), Tan Binh (ALT), Cavico Vietnam Mining and Construction (MCV), Bien Hoa Confectionary (BBC) and PetroVietnam Tourism and Service (PET).

Hasico (HAS) also put in a good performance, climbing VND2,500 to close at VND80,000, as did Hapaco (HAP), which rose VND1,500 to VND90,000.

On a more general note, the trading volume remained substantial and the blue chips were back in favor a little bit. Still, analysts are tipping a slight drop in the market as the week progresses before it slowly rallies again. 

By Ba Tan, Cat Tri – Translated by Khanh Hong

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