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Vietnam index closes up 0.7 pct on positive outlook
October 23, 2013 / 8:35 AM / 4 years ago

Vietnam index closes up 0.7 pct on positive outlook

HANOI, Oct 23 (Reuters) - Vietnam's benchmark VN Index
 gained 0.7 percent to close at 504.05 points on
Wednesday, the highest since late August 2013, lifted by
optimistic economic outlook by the year end, analysts said.
    "The inflation target of 7 percent set by the government is
likely to be achieved," said analyst Tran Minh Hoang from
Vietcombank Securities, adding that actual inflation in 2013
could be lower.
    Funds have been kept in shares and shifted between penny and
blue chip stocks, indicating that the market was still
attractive to investors, Hoang said.
    Foreign investors' net buying totalled 27.95 billion dong
($1.32 million) so far in October, after four months of net
selling, the exchange's data showed.
    Most blue chips advanced. Pha Lai Thermal Power Co 
led with a 3.0-percent rise, followed by top insurer Baoviet
Holdings, gaining 2.53 percent.
    The index was likely to advance near 510 points this week
and would have moderate rise until the end of 2013, Hoang added.
    Here is a snapshot of the VN Index at close (0801
                 VN Index       504.05           
              PREV. CLOSE       500.57           
                 % CHANGE        0.70%           
                     HIGH       504.81           
                      LOW       501.41           
        Change (%) 1-mnth          4.9           
        Change (%) 3-mnth       -1.104           
        Change (%) 1-year       26.088           
             52-week high       533.15  10-Jun-13
             52-week low        372.39   5-Nov-12
 ($1=21,080 dong)

 (Compiled by Hanoi Newsroom; Editing by Ho Binh Minh)

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