Vietnam’s benchmark VN Index rose 1.5 per cent on the last trading day of the year as strong buying in property, bank and insurance stocks boosted the volume.
Property developer HAGL led the gainers, advancing 6.25 per cent, followed by top insurer Baoviet Holdings, which rose 5.26 per cent.
A gain of 0.71 per cent in Petrovietnam Gas, the country’s biggest listed firm by market value, also lent support, even after its parent firm Petrovietnam forecast lower revenues in 2015. Volume rose to 122.97 million shares, well above the five-day average of 101.67 million, Reuters data showed.
Funds buying stocks at high prices before closing their portfolios also propped up the market, analysts said.
The Ho Chi Minh Stock Exchange ended this year with an annual gain of 8 per cent, slowing from 22 per cent in 2013 when it was the best performer in Southeast Asia.
Vietnam’s stock exchanges are closed for New Year holidays on January 1-2. Trading will resume on January 5.