VN-Index claws back to four figures after two months

By Minh Son   September 21, 2018 | 09:54 am GMT+7
VN-Index claws back to four figures after two months
A woman rides pass the Hanoi Stock Exchange in Hanoi, Vietnam. Photo by Reuters

Vietnam’s benchmark VN-Index closed at 1,004.74 points Thursday, reaching four figures for the first time in two months.

It gained 9.2 points.

The HNX-Index on the Hanoi Stock Exchange and the UPCoM-Index for unlisted companies rose by 0.75 percent and 1.01 percent respectively.

The VN30-Index, representing the 30 largest stocks in terms of capitalization, gained almost 8.5 points to finish the day at 971.

Twenty one of the 30 stocks rose, including FPT by almost 1 percent. Hoa Phat steel company (HPG) gained VND1,250 (5.4 cents) and food producer Masan (MSN) by VND1,300 (5.6 cents).

PetroVietnam Gas (GAS), PetroVietnam Oil (OIL) and Binh Son Refinery (BSR) were other prominent gainers.

Fifteen of 17 bank stocks closed in the green. Techcombank (TCB) stock rose by VND1,400 (6 cents) and VPBank (VPB) VND850 (3.7 cents).

Nguyen The Minh, director of analysis at Yuanta Brokerage, told VnExpress the market would continue to rise in the short-term despite fluctuations on the international market.

He expected the VN-Index to touch 1,100 points in the near future.

It started recovering on September 12 after plunging by 18.19 percent in the second quarter to become the worst-performing market in the world.

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