The VN-Index broke its stride a little on May 18

Hanoi (VNA) – The VN-Index broke its stride a little on May 18, managing to gain only a negligible 0.69 points before ending the day at 390.85, with the focus on many investors switching to penny stocks.

Trading volume on the HCM Stock Exchange remained high, exceeding 50.6 million
shares, for a value of more than 1.4 trillion VND (778 million USD). The day saw
gainers outnumbering decliners by 96 to 62, with 23 codes closing unchanged,

Sacombank (STB) remained the most active share with 7.6 million traded.

EuroCapital Securities Co analyst Ngo Van Minh attributed the market’s recent
sustained run to such increasingly positive signs as the growth in credit through
commercial bank, spurred on by the Government stimulus package.

Long-term recovery of Vietnam ’s economy, however, was much dependent upon
the recovery of the world economy, Minh said.

He predicted the Vietnamese stock market would go through a period of adjustment
before it returned to a sustained bull market, predicting strong sales next week.
He warned new investors away from joining in the market currently, despite the
temptation of a few hot trading sessions.

In Hanoi , the HaSTC-Index also saw a very modest increase of 0.43 percent,
closing at 136.75. Total value of the day’s trades on the northern market was
831.8 billion VND, on a volume of nearly 30.3 million shares.-Enditem