It had crossed the 1000-point mark the previous session. The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, was overwhelmingly in the green this session with 251 stocks gaining and 167 losing.Total trading volume abated slightly compared to the past week, at VND9.87 trillion ($426.75 million), whereas it was always at least VND10 trillion in the past four trading sessions, the highest trading levels seen in the history of the HoSE.According to Nguyen The Minh, Head of Retail Research at brokerage Yuanta Vietnam, selling pressure is expected to rise soon as investors seek to take profits after the VN-Index registered nine consecutive gaining sessions.”However, there is still room for the VN-Index to gain, as current macro-conditions are different from before, and so the 1,000-point resistance threshold will not be a major obstacle,” he added.Analysts at various securities firms pointed to a number of major M&A deals scheduled to take place at the end of the year, new cash from first-time investors, low interest rates, and high liquidity of the main bourse as major factors that will continue to support the VN-Index’s growth.Bluechips took the spotlight for Friday’s session, with the VN30-Index for the market’s 30 largest… Read full this story
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