Vietnam's stock market extends rise on higher value

Vietnam's stock market extended the increasing momentum to the third week, with trading value soared on rising investors' confidence over better earning reports released by several leading companies. Trading volume at the national southern Ho Chi Minh Stock Exchange (HoSE) reached the average level of nearly 20 recent trading sessions in only a morning session on Friday The VN-Index of the HoSE is currently shaking and struggling to hit the peak in July. According to analysts, if passing the area of 510 points, the index will likely make a breakthrough. Analysts held that when the market is uncertain, many investors tend to shelter their assets in blue chips that have good fundamentals. The VN-Index of HoSE went down 0.43 points or 0.08 percent to close at 507.79 points on Friday. During the week, VN-Index gained 7.17 point or 1.43 percent against last Friday's closing session. The index experienced two ups and three downs, posting the highest level of 508.22 points on Thursday and the lowest level of 497.73 points on Tuesday. Last week VN-Index ranged from 493.66 points to 500.62 points. A total of 60.576 million shares worth 978.383 billion VND (46. 36 million U.S. dollars) changed hands at the HoSE on Friday, a decrease of 4.8 percent in volume and 16.15 percent in value against Thursday. VN-30 index, the new benchmark index for the HoSE which has been applied since Feb. 6, 2012 and tracks the 30 leading shares by both market capitalization and liquidity, closed at 559.16 points on Friday, up 0.09 points, or 0.02 percent against the previous trading day. A total of 19.636 million shares were traded, worth 566.5 billion VND (26.84 million U.S.dollars). On the country's northern bourse, Hanoi Stock Exchange, the HNX-Index concluded at 62.25 points, down 0.08 points or 0.13 percent on Friday against the previous trading day's closing session.