HO CHI MINH CITY: The Vietnam Stock Index or VN-Index, a capitalization-weighted index of all the companies listed on the Ho Chi Minh City Stock Exchange, climbed on bank stock gain this week, lifting the index to 584.7 points.
After a week of losing value, bank stocks bounced back. Shares of some banks including Vietcombank (VCB), Bank for Investment and Development of Vietnam (BIDV), Eximbank (EIB), Military Bank (MBB), Vietinbank, Asia Commercial Bank (ACB), and Saigon-Hanoi Bank (SHB) , saw their prices surge.
The VN-Index closed at 584.7 points on Friday, up 4.35 points, or 0.75 percent, from the previous trading day’s close. From the previous week’s close, the index won 1.97 points, or 0.33 percent.
During the week, the index experienced two ups and three downs, posting the highest level of 586.48 points on Monday, and the lowest level of 578.87 points on Wednesday. In comparison, it ranged between 574.1 points and 582.73 points the previous week.
About 201.253 million shares worth 3.500 trillion VND (161.51 million U.S. dollars) changed hands on the Ho Chi Minh City Stock Exchange on Friday, an increase of 104.97 percent in volume and 124.42 percent in value as against Thursday.
The market outlook currently remains positive based on encouraging macro-economic conditions and strong money flows pouring into the bourse, according to Bao Viet Securities Company.
Analysts from Maybank Kim Eng Securities Company said the upward trend of the index will be maintained in the upcoming time, so investors should consider taking profits soon and hold good stocks for investment in next trading sessions.
