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The Vietnam Stock Index or VN-Index, a capitalization-weighted index of all the companies listed on the Ho Chi Minh City Stock Exchange, fluctuated this week, mainly due to the psychology of investors ahead Tet - the country's traditional Lunar New Year holiday.
According to stock experts, investors also concerned about the instability that may occur in the global market during the week-long holiday.
Uncertainty over the global economy and the volatility of oil prices impacted the recovery of the local bourse this week. Energy stocks like PetroVietnam Drilling and Well Services Corporation (PVD), PetroVietnam Technical Services Corporation (PVS), and PetroVietnam Coating Corporation (PVB) saw weak buying demands.
Meanwhile, large-cap stocks from insurance companies, rubber and plastic firms, banks and brokerage firms were traded actively.
The VN-Index closed at 544.75 points on Friday, up 2.6 points, or 0.48 percent, from the previous trading day's close. From the previous week's closing session, the index lost 0.5 points, or 0. 09 percent.
During the week, the index experienced three ups and two downs, posting the highest level of 544.75 points on Friday, and the lowest level of 536.45 points on Tuesday. In comparison, it ranged between 537.73 points and 545.25 points in the previous week.
About 61.850 million shares worth 943.21 billion Vietnamese dong (VND) (43.14 million U.S. dollars) changed hands on the Ho Chi Minh City Stock Exchange on Friday, a decrease of 9.76 percent in volume and 11.64 percent in value as against Thursday.
Accoding to the Tet schedule of Ho Chi Minh City Stock Exchange, trading transactions will suspend from Feb. 8 to 12.
During the holiday, the global market may contain instabilities, so investors should be cautious and hold shares equivalent to the proportion of cash, said analysts from Maybank Kim Eng Securities Company. Enditem