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VN-Index rockets by nearly 16 points

SGGP
After curbing losing momentum last weekend, the Vietnam’s stock market opened July with an upbeat trading session on July 1.

VN-Index rockets by nearly 16 points

In the morning, VN-Index rose by nearly 10 points. The market continued to move positively in the afternoon trading session. Of which, three stocks, including CTG with an increase of 7 percent, GAS with 6.4 percent and PLX with 6.4 percent, helped the market to speed up. At the same time, rising momentum also spread widely to other large-cap stocks, helping green to be kept firmly on the market.

Ending the trading session on July 1, the Vietnam’s benchmark VN-Index jumped 15.67 points, or 1.65 percent, to 965.61 points with 216 winners, 100 losers while 50 stocks remained unchanged.

The HNX-Index of the northern bourse gained 0.58 points, or 0.56 percent, to 104.09 points. Among the index members, there were 70 stocks climbing, 61 falling and 58 standing still.

However, in this trading session, foreign investors shifted to net sell VND110 billion after net buying for three straight trading sessions.

The global gold price went down on July 1 as the US dollar strengthened, causing the price of gold in Vietnam to decline by VND600,000 per tael (1.2 ounces), retreating to near VND38 million per tael after standing at nearly VND40 million per tael last week.

At 4.30 p.m. in Ho Chi Minh City, Saigon Jewelry Company bought gold at VND38.1 million per tael and sold at VND38.35 million per tael, a decrease of VND550,000 per tael in both buying and selling rates.

Spot gold traded at US$1,392.5 an ounce at 9 a.m. Vietnamese time in Asian market, down $17.4 an ounce compared to the closing price in New York last week. With this level, global bullion price was VND300,000-VND500,000 per tael lower than domestic one.

By Nhung Nguyen – Translated by Thuy Doan

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