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Vietnam's Hanoi bourse retains upward trend

English.news.cn   2014-02-28 20:58:13

HANOI, Feb. 28 (Xinhua) -- Uptrend was prolonged on the stock market in Vietnam's capital Hanoi during the week, the fourth consecutive week of increasing trend after the Lunar New Year Festival.

HNX-Index, the benchmark index on the Hanoi Stock Exchange, closed at 83.12 points on Friday, up 0.49 points, or 0.59 percent, from the previous close.

A total of 77.34 million shares worth 731.58 billion Vietnamese dong (34.67 million U.S. dollars) were traded on the bourse on Friday, a decrease of 30.21 percent in volume and 31.04 percent in value as compared with Thursday.

Prices of 141 stocks went up, 80 stocks fell down, while 89 stocks remained unchanged.

The index posted an increase of 2.95 points, or 3.67 percent, over the previous week.

During the week, the index experienced four ups and one down, peaking at 83.12 points on Friday while hitting the lowest level of 81.66 points on Monday.

Last week, HNX-Index ranged from 79.64 points to 82.33 points.

HNXFF-Index, the new benchmark designed to replace the HNX- Index from December 2014, closed at 82.64 points, up 0.51 points or 0.62 percent on Friday.

During the first month of 2014, the HNX-Index increased 9.04 percent, with average trading volume up 7.6 percent over December 2013.

The market maintained its positive trend with large capital flow despite the denial by the State Securities Commission (SSC) that a regulation on increasing foreign stakes at listed companies from the current 49 percent to 60 percent could be passed this month.

The commission said the approval will be announced in line with established regulations.

Investors still expect the new policies to be related to the Trans-Pacific Partnership and the equitization of state-owned enterprises, therefore, capital flow is forecast to continue pouring into the market.

The SSC has recently proposed a plan to merge the country's two stock bourses -- the northern Hanoi Stock Exchange and southern Ho Chi Minh Stock Exchange.

According to the plan, after merging, the new bourse will be 100 percent state-owned, and its members could buy 10 percent-25 percent of the stake.

Editor: Fu Peng
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