Vietnam Stock Market Hits 8-Year High on Strong Inflows — Market Talk

0326 GMT [Dow Jones] Vietnam’s stock market rises to an eight-year high Friday on strong money inflows, despite weak economic growth. The benchmark VN-Index is up 0.4% at 663.67, with 49.3 million shares changing hands. “Though economic growth has been weaker than expected, investors are confident that the government is committed to boosting growth for the rest of the year,” Hanoi-based stock broker Tran Vu Cuong said. He notes that the government is targeting credit growth of 20% this year, adding that the margin trading has also been strong. Some local banks with strong liquidity are also believed to invest in stocks, he said. Government data showed GDP growth in the first half of this year at 5.52%, far lower than a full-year growth target of 6.7%. “Without supportive news ahead, we expect the market will soon fall to a correction period,” he said. (trong-khanh.vu[a]wsj.com; Twitter: [a]TrongKhanhVu)

 
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