Vietnam's capital Hanoi stock market extends upward trend

Stock market in Vietnam's capital Hanoi extended an upward trend in the past two weeks, thanks to positive information that helps push the bourse up.
Closing this week, the stock index of Hanoi posted an increase of 1.52 points or 1.73 percent against last Friday's close.
The stock market index of Vietnam's capital Hanoi, HNX-Index, closed at 89.55 points on Friday, up 0.23 points, or 0.26 percent, against the previous trading session.
A total of 43.94 million shares worth 654.53 billion Vietnamese dong (31.02 million U.S. dollars) were traded at the Hanoi Stock Exchange on Friday, a decrease of 28.92 percent in volume and 22. 08 percent in value against the previous trading session.
Prices of 115 stocks went up; 74 stocks fell down, while 67 stocks remained unchanged.
During the week, the benchmark index experienced three ups and two downs, posting its highest level of 89.55 points on Friday and lowest level of 88.68 points on Wednesday.
Last week, the HNX-Index fluctuated within a range between 84. 38 points and 88.03 points.
As of Friday, the HNX-Index increased 21.71 points, or 32 percent compared with the last trading session in 2013.
HNXFF-Index, the new benchmark to replace the HNX-Index from December 2014, closed at 90 points, up 0.16 points or 0.18 percent on Friday.
According to local insiders, HNX-Index investors have received some positive information that helps push their confidence into the market during the week.
On Monday, Fitch rating agency increased Issuer Default Ratings (IDR) of Vietnamese government bonds in domestic and foreign currencies in long-term loans to BB- from B+ thanks to a forecast that Vietnamese macro-economy will be stable in the long run.
On Friday, the sharpest decrease in petroleum price in Vietnam' s domestic market since the beginning of 2014 has had positive impacts on investors' sentiments.
With supporting news, the market enjoyed upward trend during the week, and is expected to remain in the coming week, said local analysts.