Stocks stage a recovery

The VN-Index gained 9.14 points yesterday to close at 379 points, with analysts attributing the recovery to good news on the interest rate and inflations fronts.

Investors watch electronic boards of stock prices in a trading session in ACB Securities Company.

The central bank has cut the interest rate from 14 percent to 13 percent per year, leading to a likely cut in loan interest rates that will benefit companies.

Moreover, some good news from the market such as Consumer Price Index (CPI) in Ho Chi Minh City decreased by 0.24 percent compare with last month, the petrol price decreased also.

Of the 165 listed securities, 120 gained.

Trading volume was 17 million and value topped VND566 billion (US$33.7 million).

The Ha Noi Securities Trading Center too was up, with the index gaining 3.7 points, or 3.01 percent, to close at 126 points. The volume was 8.1 million and value VND232 billion.

Prime Minister Nguyen Tan Dung had said last week that the US financial crisis has not directly impacted Viet Nam.

By Han Ni - Translated by Thanh Huong

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