Vietnam stock markets up on economic growth outlook

Vietnam’s stock market rose Monday after the government last week forecast third-quarter economic growth would rise to an annualized 7.2 %, up from 6.4 % in the second quarter.

Vietnam’s stock market rose Monday after the government last week forecast third-quarter economic growth would rise to an annualized 7.2 %, up from 6.4 % in the second quarter.

The VN Index finished up 1.58 %, closing at 466 from 458 on Wednesday, the last day of trading ahead of the National Day holiday.

‘I believe the downward trend has been stopped,’ said Dao Viet Anh, an analyst at FPT Securities. ‘Investor sentiment is very positive now.’

In January, the VN Index was at 495 but slumped in the first six months of the year to a low of 424 in August before recovering.

‘This is the sixth-consecutive day the market has gone up,’ said Nguyen Thu Nga, a trader at Sacombank Securities. ‘The Vietnam stock market often goes up after National Day. The key index may test 540 to 550 in the fourth quarter.’