HANOI, Feb 24 Vietnam's benchmark VN Index
closed up 1.05 percent at 576.58 points on Monday on news
that the government would make a decision late this month on
raising the foreign ownership limit in some listed firms,
News on the government planning to raise the foreign
ownership in some listed firm to 60 percent from 49 percent
first emerged in late December 2013.
On Monday the Hai Quan Online (Customs) newspaper said the
government may finalise the move in late February, quoting the
State Securities Commission, the stock market watchdog.
"Investors' excitement on the raise, possibly signed by the
prime minister this week, has erased worries over the fear of
corrections (of the index)," said Trinh Hoai Giang, a senior
official at Ho Chi Minh City Securities.
Saigon Securities Incorp climbed 4.76 percent, Ho
Chi Minh Securities Corp jumped 5.96 percent and
technology firm FPT Corp advanced 2.59 percent.
The three firms are among 30 listed companies which
currently have foreign ownership at limit, Giang said.
Analysts had expected the index to ease to 535-540 points
due to extended selling that lifted the volume on the exchange
to a record high last Thursday.
Here is a snapshot of the VN Index at the close (0801
VN Index 576.58
PREV. CLOSE 570.57
% CHANGE 1.05%
Change (%) 1-mnth 1.904
Change (%) 3-mnth 13.312
Change (%) 1-year 19.684
52-week high 584.1 20-Feb-14
52-week low 459.64 27-Feb-13
(Reporting by Mai Nguyen; Editing by Ho Binh Minh)