Vietnam stock index rebounds to 570-point level

GMT 21:33 2015 Friday ,28 August

Arab Today, arab today Vietnam stock index rebounds to 570-point level

Vietnam stock index
Ho Chi Minh City - XINHUA

The Vietnam Stock Index or VN-Index, a capitalization-weighted index of all the companies listed on the Ho Chi Minh City Stock Exchange, rebounded to 570- point level this week thanks to investors' optimism.

The index closed at 570.87 points on Friday. This seemed a breakthrough as the index lost nearly 30 points, equivalent 5.28 percent in the first trading sessions on Monday due to volatility of global markets.

According to experts, this was the second time that the index had dropped more than 5 percent during its 15 years of operation.

However, investors' psychology were reassured when global stock markets rebounded sharply.

In addition, the news related to the Deputy Governor of the State Bank of Vietnam Nguyen Thi Hong said the central bank would not devalue the dong further this year also boosted the bank shares group and made them become the most active shares this week.

Apart from bank shares, energy stock group, gas and oil shares also played an important role in leading the market uptrend.

The VN-Index closed at 570.87 points on Friday, up 15.06 points, or 2.71 percent, from the previous trading day's close. The index won 14.57 points, or 2.6 percent from the previous week's close.

During the week, the index experienced four ups and only one down, posting the highest level of 570.87 points on Friday, and the lowest level of 526.93 points on Monday. In comparison, it ranged between 556.3 points and 580.22 points the previous week.

About 165.727 million shares worth 2.826 trillion VND (129.14 million U.S. dollars) changed hands on the Ho Chi Minh City Stock Exchange on Friday, an increase of 29.74 percent in volume and 36. 87 percent in value against Thursday.

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