Vietnam’s benchmark index hits ten-year high on back of blue chip gains
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Investors have been spending big on the stock market so far this year.
Ho Chi Minh City’s VN-Index broke the 800-point barrier on Friday for the first time since February 2008.
The index finished up 4.48 percent at 801.5 points.
Growth was driven by blue chips, including brewery giant Sabeco, Masan Group, insurance firm Baoviet and Vietcombank.
The benchmark index hit an all-time high of 1,170.67 in March 2007, before a sharp sell-off in the wake of the global financial crisis.
The average transaction value reached about VND3 trillion ($132 million) per session last year, but it has been hitting up to VND7.5 trillion at some points this year.
Questions & Answers
Q.What specifically caused the VN-Index to reach its recent ten-year high?
What specifically caused the VN-Index to reach its recent ten-year high?
The recent high was driven by strong performance from blue-chip companies. Key contributors included the brewery giant Sabeco, Masan Group, the insurance firm Baoviet, and Vietcombank.
Q.When did the VN-Index previously achieve an all-time record high?
When did the VN-Index previously achieve an all-time record high?
The benchmark index reached its all-time high of 1,170.67 points in March 2007. This occurred before a significant market downturn following the global financial crisis.
Q.How has the daily transaction value on the market changed recently?
How has the daily transaction value on the market changed recently?
The average daily transaction value last year was approximately VND3 trillion ($132 million). This year, the market has seen transaction values reach up to VND7.5 trillion on some occasions.
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