HO CHI MINH CITY, Oct. 28 (Xinhua) -- The Vietnam Stock Index or VN-Index, a capitalization-weighted index of all the companies listed on the Ho Chi Minh City Stock Exchange, declined for five consecutive days this week since leading stocks like banks and securities had bad performances.
The index turned back to the 670-point threshold in the first trading days of the week. Some of large banking stocks such as Vietcombank (VCB), Saigon-Hanoi Bank (SHB) and Vietinbank (CTG), Sacombank (STB), Bank for Investment and Development of Vietnam (BID) and Eximbank (EIB) performed poorly.
Securities stocks, including Bao Viet Securities Corp (BVS), HCM Securities Corp (HCM), Saigon Securities Inc (SSI) and VNDirect Securities Corp (VND) were in the same situation.
However, shares bounced back in the last two days of the week, helping the index stand at the threshold of 680 points, mainly thanks to the good performances of large-cap stocks in the energy sector like PetroVietnam Gas Corp (GAS), PetroVietnam Technical Services Corp (PVS), and PetroVietnam Construction Corp (PVX); rubber companies stocks Phuoc Hoa Rubber JSC (PHR), Dong Phu Rubber JSC (DPR) and Tay Ninh Rubber JSC (TRC), and property companies' shares Hoa Binh Construction and Real Estate Corp (HBC), Tan Tao Investment and Industry Corp (ITA), Saigon Thuong Tin Real Estate Corp (SCR) and Vingroup JSC (VIC).
The index closed at 682.25 points on Friday, up 5.35 points, or 0.79 percent, from the previous trading day's close. From the previous week's closing session, the index lost 2.58 points, or 0.37 percent.
During the week, the index experienced two ups and three downs, posting the highest level of 682.25 points on Friday, and the lowest level of 673.61 points on Wednesday. In comparison, it ranged between 680.95 points and 688.89 points in the previous week.
About 117.262 million shares worth 2.075 trillion Vietnamese dong (VND) (28.81 million U.S. dollars) changed hands on the Ho Chi Minh City Stock Exchange on Friday, an increase of 28.81 percent in volume and 25.06 percent in value against Thursday.
The index may reach 700 points in the next trading sessions, predicted Viettinbank Securities Company.
