HANOI, Jan 15 Vietnam's benchmark VN Index
closed up 0.84 percent on Wednesday, the ninth straight
gain, as investors bought several blue chips with expectation
the government would soon allow foreign investors to own more in
listed firms, analysts said.
Shares of the companies, in which foreign holdings are at
limit, advanced. Sai Gon Securities Incorp rose 5.13
percent, technology firm FPT increased 1.63 percent and
Refrigeration Electrical Engineering Corp gained 0.96
The government could raise foreign ownership limit to 60
percent, from 49 percent now, in some listed firm within two
weeks, analysts said.
Investors also bought speculative stocks in the real estate
sector, after a Rockefeller firm has agreed to develop a $2.5
billion resort project in Vietnam.
Shares of property firm Tan Tao Investment and Industry Corp
jumped 6.15 percent, while its volume hit a record high
of 23.1 million shares, Reuters data showed.
The index, which has advanced for nine consecutive sessions,
might rise beyond its resistance level of 530-533 points within
two weeks, analysts said.
The political crisis in Thailand has also prompted foreign
investors to search opportunity in Vietnam's stock market,
The VN Index is Southeast Asia's best performer in 2013.
Here is a snapshot of the VN Index at the close (0801
VN Index 526.68
PREV. CLOSE 522.31
% CHANGE 0.84%
Change (%) 1-mnth 3.211
Change (%) 3-mnth 5.812
Change (%) 1-year 13.801
52-week high 533.15 10-Jun-13
52-week low 440.48 23-Jan-13
(Reporting by Mai Nguyen; Editing by Ho Binh Minh)