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VN-Index on Vietnam's southern stock market VN-Index hits 6-year high

English.news.cn   2014-08-29 18:26:45

HO CHI MINH CITY, Aug. 29 (Xinhua) -- VN-Index, the main index of Ho Chi Minh (HCM) City bourse in southern Vietnam hit its six- year high of 636.65 points this week along with increasing liquidity.

Analysts said increasing liquidity showed investor confidence that was supported by optimistic economic data, including nine- year lowest inflation level in August and trade surplus obtained so far this year.

Blue chips kept the market momentum as the large-cap stocks rose strongly. Realty stocks again drew most investment this week.

The VN-Index closed at 636.65 points on Friday, up 4.62 points, or 0.73 percent, from the previous trading day's close. From the previous week's close, the index won 16.51 points, or 2.66 percent.

During the week, the index experienced four ups and one down, posting the highest level and also the six-year record high of 636. 65 points on Friday, and the lowest level of 625.88 points on Monday. In comparison, it ranged between 604.64 points and 620.14 points the previous week.

About 189.882 million shares worth 3.771 trillion VND (177.52 million U.S. dollars) changed hands on the HCM City Stock Exchange (HoSE) on Friday, an increase of 15.52 percent in volume and 31.21 percent in value as against Thursday.

At the workshop, "Challenges and Opportunities for Vietnam's stock market in the second half of 2014", analysts said that Vietnam's stock market is expected to grow further towards the end of 2014, with the VN-Index possibly hitting 650 points.

Although the index exhibited an uptrend, analysts at FPT Securities Company warned that buying at this time might be risky.

Editor: Shen Qing
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