Investors at the trading floor of the Bao Viet Securities Company (Photo: VNA) Hanoi (VNS/VNA) – Vietnamese stock markets are expected to remain positive in the short-term, with the VN-Index moving towards the 990-1,000 point range next week. The benchmark VN-Index on the Ho Chi Minh Stock Exchange rose 0.14 percent to close February 22 at 988.91 points, marking a five-day gain of nearly 4 percent. The minor HNX Index on the Hanoi Stock Exchange finished last week up 0.66 percent to close at 106.82 points, marking a weekly gain of 0.6 percent. An average of 228.7 million shares was traded in each session last week, worth 4.9 trillion VND (210 million USD). According to Bao Viet Securities Company, the market would be strongly affected by large-cap stocks and see a wide divergence among stock groups. Capital flows were also forecast to run into stocks that had not made significant gains or were accumulating profits such as oil and gas, bank, building material and real estate stocks. "Although the short-term trend remains positive, investors should avoid new buying positions at above 991 points due to the rising possibility of a market correction at that resistance zone," BVSC said in its… Read full this story
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