VN Index

The VN-Index, the measure of 250 stocks and four closed-end funds, gained 0.11 points, or 0.04%, to end at 491.11, enough to pare the earlier loss. Yesterday, the benchmark sank to the lowest close since May 26.

After the trading session, the VN Index reversed to increase by 0.11 point or 0.02 percent to close at 491.11 points. The market liquidity remained at low level with over 35 million shares changing hands for total share value of 1.013 trillion dong.

After the statement released by State Bank of Vietnam about maintaining the basic interest rates of 8 percent per year, it was considered as the mainstay of the market during the time the market showed no impacts to the released information sources.

The VN Index lost 2.21 points or -0.44% Monday as investors worried about not-strong-enough money flows while trade deficit stayed high for a second consecutive month and July number is estimated at around $1.15 billion. However, with global market rallies, 496 support is expected to protect the market well.

Both Bloombergs article citing Kevin Snowball, chief executive of PXP vision that VN Index may hit 700 at a point this year and reach 1,000 within the next two ones and the rumor this morning that the State Bank of Vietnam will cut benchmark rate to 7% for August from July 8% could not inspire the buyers.

The VN-Index, the measure of 250 stocks and four closed-end funds, lost 0.43 points, or 0.09%, to end at 497.67, the lowest since July 8. The measure has declined 9.5% from the yearly high on May 6 and erased the value gained in this year, according to FPT Securities, which manages this website.

The measure has slumped nearly 9.5% from the yearly high on May 6 on concerns Europes debt crisis and weaker economic data, according to FPT Securities, which manages this website. Amongst 250 stocks and fund certificates, 100 closed higher, 87 lower and 63 unchanged.

In sector, petro group posted the strongest gain of 1.6%, followed by communication and food and beverage up 1.4% and 0.9% respectively. Sugar companies have been performing well lately on the back of news that sugar prices will go up as demand in Thailand is increasing. SBT remained the speculative stock on the market whose prices hit ceiling price for

Petroleum Industrial And Civil Construction JSC (PXI) was in the third place with 1.67 million shares traded, down 1.23% to VND32,000. Thuan Thao Corp (GTT), a transport firm, was the fourth most active on a trade of 1.5 million units which fell 3.98% to VND16,900. Viet Han Group (VHG) ranked fifth with 1.34 million shares changed hands, closing at the

Global markets were weak as the previous sessions short-covering rally dwindled, with sentiment stung after macroeconomic data from the United States pointed to a sluggish recovery in the economy and doubts about global economic growth persisted.