VN-Index recovers to above 550 points

The Vietnam’s stock market snapped seven-consecutive-day losing trend, gaining nearly 6 points in the trading session on March 30 thanks to positive news on gross domestic product which posted 6.03 percent growth in the first quarter of this year and stronger purchasing power from foreign investors.
The Vietnam’s benchmark VN-Index grew 5.94 points, or 1.09 percent, to close at 551.13 points. Of the index members, 159 stocks advanced, 62 retreated, and 64 stalled.
The VN30-Index rallied 3.37 points, or 0.58 percent, to 579.97 points with 21 winners, 2 losers, while 7 shares remained unchanged.
The HNX-Index also regained 0.84 percent, or 0.69 points, to close at 82.27 points. There were 173 stocks surging, 56 shrinking, and 176 treading water.
The market’s total trading value was fairly low, roughly at VND1.7 trillion.
Although some commercial banks lowered their US dollar exchange rates by VND5-10 per dollar in the morning, the rates rebounded to nearly VND21,600 per dollar at the end of the day.
The State Bank of Vietnam has still kept the interbank average dollar exchange rate at VND21,458 per dollar. At the State Bank of Vietnam Operations Center, dollar exchange rate was at VND21,350 per dollar for buying and at VND21,600 per dollar for selling.
Many importers and exporters said that they have run into many difficulties due to high dollar exchange rate.

By Nhung Nguyen – Translated by Thuy Doan

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