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Vietnam stock market hits 9-year high

Vietnam stock market hits 9-year high

Wednesday, September 28, 2016, 14:17 GMT+7

Vietnam’s stock market hit a nine year high on Tuesday after finishing a full week of continuous growth following the introduction of new trading rules earlier this month by the Ho Chi Minh City Stock Exchange (HOSE).

The benchmark VN-Index of HoSE surged 7.85 points (1.16 percent) to reach 684.89 points at the conclusion of Tuesday’s trading session, shattering the previous peak of 681.75 points set in July.

The HNX-Index of Hanoi Stock Exchange (HNX) also saw a 0.45 percent increase of 0.38 points to finish at 83.48 points on Tuesday.

Tuesday was the VN-Index’s seventh consecutive session of growth thanks to improved purchasing power as a result of the recent drop in bank interest rates, an increase in crude oil prices, and a positive consumption index in the real estate industry.

Two weeks after the HoSE’s introduction of new trading rules, which include smaller price quotation units and larger maximum volume of stock orders, it seems that investors are growing accustomed to and benefiting from the new trading rules.

In the first day after the rules’ implementation, Vietnam’s stock market experienced widespread drops across most listed stocks, prompting concerns among investors.

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