VN-Index creeps up one point

The VN-Index this morning achieved a fifth consecutive gain as it inched up by a mere 1.01 points to close at 844.11.

Initially, the VN-Index dropped more than 15 points towards the end of continuous order matching period after Sacombank (STC) and a number of other stocks declined from heavy selling.

But a few minutes before the trading session ended, a large volume of sell orders from STB, Phu My Fertilizer and Chemicals (DPM) and Saigon Securities (SSI) were matched at low prices while Vinamilk (VNM) rose limit up by VND6,000.

Seventy-four stocks were reported to gain and 23 others remained unchanged as more than 13.17 million shares were traded for VND987.56 billion (US$61.8 million).

Notably, newly-listed Trading and Tourism Vinpearl (VPL) strongly increased by 20 percent at the beginning of the session to close at VND136,000.

Investors hope that the VN-Index will be able to exceed 850 points at the end of the last trading session before the Lunar New Year (Tet) holidays, paving way for a robust recovery in the new year to come.

VNN

>   Vinamilk skims the cream off high earnings (31/01/2008)

>   State Bank amends Decision 03; but new barriers emerge (31/01/2008)

>   PetroVietnam turnover exceeds $13 billion (31/01/2008)

>   Sabeco raises VND 5.5 trillion from IPO (30/01/2008)

>   Stock market recovers vigorously (30/01/2008)

>    MoF moves to stabilise stock market (30/01/2008)

>   Fund invests 12 million USD in jewelry trader (30/01/2008)

>   Untimely Sabeco auction blamed for sluggish market (30/01/2008)

>   MoF moves to stabilise stock market (30/01/2008)

>   Prospects for Vietnamese capital and financial market (29/01/2008)