Vietnam’s benchmark VN Index closed up 0.62 per cent to its highest since November 17, lifted by solid inflows into blue-chips from both foreign and domestic investors.
PetroVietNam Gas, Vietnam’s top firm by value, climbed 1.92 per cent, while dairy product maker Vinamilk rose 0.93 per cent and Vietcombank, the country’s biggest lender by capitalisation, was up 0.78 per cent.
Foreigners’ net buying of Vietnamese equities in the previous 13 sessions supported the sentiment and attracted domestic funds into the market, boosting the volume to 120.5 million shares, the highest since January 27.
“It’s only surprising if the market tumbles as the upward trend has been quite clear since the beginning of the year,’’ said deputy manager Nguyen Thanh Lam of Maybank Kim Eng Securities.
“Foreigners are buying strongly, while margin is at safe level, so investors have money to push the index further,’’ Lam said.