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Government report lifts market VNTimes

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Shares climbed towards the end of the May 20 session on both nationalstock exchanges amid investor optimism over positive outcomes from theGovernment report at the National Assembly meeting which opened thatmorning in Ha Noi.

"Investors expected to hear new boostingmeasures to accelerate the recovery of the economy which was dragged byhuge inventories, shrinking domestic consumption and frozen propertymarket among others," analysts of the FPT Securities Co commented on thecompany's website.


The fifth meeting of the 13th NationalAssembly will discuss hot topics including domestic economics, politicsand upcoming law changes.


On the HCM City Stock Exchange, the VN-Index added 0.96 percent to finish the session at 492.27 points, led by large-cap shares.


Nineteenof the top 30 shares by market capitalisation and liquidity advancedwhile only two codes sank, pushing the VN30 up 0.95 percent to 558.79points.


Trading volume was little changed from May 17, totalling around 49 million shares, worth 854.4 billion VND (40.7 million USD).


Thirteencodes saw trades of more than 1 million shares, of which propertydeveloper Tan Tao Investment Industry (ITA) led the market with 3.2million stocks changing hands. ITA rose 1.5 percent to hit VND 6,800 ashare.


On the Hanoi Stock Exchange, the HNX-Index climbed 0.98percent to close on 61.04 points with risers outnumbering fallers by102-65.


Trading was modest, however, as just under 30 millionshares, worth 254.3 billion VND (12.1 million USD), were exchanged bythe end of the session.


The market was still dominated by tradingon three speculative shares: PetroVietnam Construction (PVX), SaiGon-Hanoi Bank (SHB) and real estate company Sacomreal (SCR), with eachhaving more than 4 million shares traded.


PVX, the most activecode on trades of 4.72 million shares, closed unchanged at 5,200 VND ashare, while SHB and SCR increased 2.9 percent and 4 percentrespectively, at around 7,000-7,700 VND a share.


Foreigninvestors also finished on May 20 as net buyers on both exchanges,picking up shares worth a combined 64 billion VND (3 million USD).-VNA







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