VN-Index rallies after US and Asian stocks’ gain

The green came returned to the Ho Chi Minh Stock Exchange on Friday following good news from the US and Asian stock markets.

Wall Street Thursday extended its winning streak to a third day after Bank of America's optimistic profit outlook and subsequent Asian stocks lifted by Wall Street.

The VN-Index gained 0.43 points, 0.17 percent, to close at 251.44. Eighty stocks gained, 56 lost and 42 remained unchanged.

Turnover reached 12,864,960 shares worth VND 220.6 billion ($12.6 million)

In Blue-chip areas, STB and SSI rose, DPM was unchanged. STB and REE were leading shares in trading volume with 1.4 million STB shares exchanging hands and 7.7 million REE shares being traded.

In this morning’s trading session, foreign investors bought 1,271,140 shares worth VND 24.9 billion, selling 1.339.910 shares worth VND25.9 billion.

At the smaller bourse in Hanoi, the HaSTC-Index gained 1.2 points, 1.37 percent, to reach 88.67, with 64 rising, 28 remaining unchanged and 62 losing.

Experts say that VN-Index today gained not only due to Wall Street and Asian stocks but also because of yesterday’s record high turnover despite slight losses. Trading was 19.47 million shares worth VND 311 billion, an increase of 13 percent. This was the highest volume since the market peaked on November 6, 2008.

Experts say buying power is still very strong after yesterday’s eventful session.

Reported by Dong Nghi

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