Hanoi - The Vietnamese stock market rebounded sharply Friday following Thursday's rebound in the US stock market. The volatile VN-Index ended up 4.7 per cent, to close at 439.06.
Market volume totaled 25.5 million shares, valued at 850 billion dong (51 million dollars), up from 457 billion dong (27 million dollars) on Thursday.
Phan Hong Quan, director of Eurocapital Securities company, credited the rebound of the US and regional stock markets.
The Vietnamese market had fallen in nine of the last ten sessions on US worries, losing 21 per cent of its value, and investors felt it could not fall much further.
"I think the market has touched bottom," said Nguyen Thanh Van, a trader at Kim Long Securities.
"It is not a difficult move to understand," said Dao Viet Anh, of FPT Securities. "The market has dropped for ten days in a row, it is time to recover."
