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Vietnam stocks recover strongly (18/04)
06/08/2010 - 138 Lượt xem
HCMC’s VN-Index gained over 35 points to close at 1001.12. Hanoi’s HASTC-Index jumped by 20.02 points to 385.57.
Turnover in HCMC was VND453 billion (US$28 million), down 27 percent over the previous session.
There were 100 gainers and only two losers out of the total 109 stocks. Of the gainers, 87 hit the 5 percent ceiling.
Blue chips like KDC, REE, SJS, STB, and BMP all rose by 5 percent.
REE stocks led the market in term of trading value worth VND62 billion, overtaking Sacombank.
The two mutual funds, PRUBF1 and VFMVF1, also hit the ceiling to close respectively at VND14,100 and VND34,600.
Foreign investors continued to be net buyers, focusing on VIP, PRUBF1, and VNM.
Lam Minh Chanh, a securities expert from the Asian Institute of Technology in Bangkok, predicted the VN-Index to stabilize at between 900 and 1,000 in the next couple of months.
Many stocks whose valuations went through the roof in the last few months were likely to find their fair levels, he added, all good signs for the market.
Hanoi saw 1.38 million shares traded for VND184 billion, down 24.3 percent and 17.3 percent respectively over the previous session.
Source: Thanh Nien
