Vietnam’s benchmark index hits ten-year high on back of blue chip gains
By Mei Ling Tan
1 min read
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.