The Vietnamese stock exchange continued its uptrend on the last day of
trading this week, despite the gloom pervading world markets.

On July 4, the VN-Index closed at 439.68, an increase of 9.63 points or 2.24 percent.

During the day’s trading,11.10 million shares changed hands, with a turnover of 355.72 billion VND (21.56 million USD).

According to many analysts, the uptrend will not likely continue due to ongoing negative economic factors.

“The
inflation rate, at 22 percent, it still high and interest rates from
commercial banks are still climbing. Investors will thus encounter
difficulties borrowing money for securities investment,” the analysts
explained.

They also predicted that the VN-Index could fall again next week, when share prices return to a lucrative level for sale.

Vincom (VIC) stock on July 4 dropped 1 percent to 100,000 VND, VPL of Vinpearl also fell, to 114,000 VND.

Sacombank
(STB) maintained its position as the most heavily traded stock on the
market, with a volume of 1.23 million shares. VTO of the Vietnam Tanker
Co. was the second most heavily traded with 1.06 million shares.

Sacombank
is one of the firms that US –based Russell Investment selected in its
Russell Global Indexes, among other firms like Financing and Promoting
Technology (FPT), Sai Gon Securities Inc (SSI) and Vincom (VIC).

The
russell Global Indexes are global relative indexes. Company inclusion
on the indexes depends on the investment potential of the security and
its size.

In Hanoi , the HASTC-Index also rose with the
trading session closing at 125.55. The index increased 2.85 percent
over the July 3 session.

Asia Commercial Bank (ACB) stock rose
with the limited trading band of 4 percent, staying at 54,600 VND. In
addition, BVS from Bao Viet Securities climbed to 3.93 percent,
reaching 37,000 VND.

Trade turnover for the session totalled 117.59 billion VND (7.13 million USD) and 4.52 million shares changed hands.

On
the other Asian markets, benchmark indexes continued to slip due to
high crude oil prices and continued concern over the future of the US
’s economic climate.