HOSE Vietnam Stock Index(VNI) – Divergence in the uptrend

Continuing economic developments in this vibrant country has lifted the Vietnam equity market to a new 17-month high. The VN index of HOSE rose as high as 594.32 points before settling at 580.90 points. The 595 points level is a 38.2% Fibonacci level from the 2-year bear trend that started from the highest level in the index in March 2007 to the low in February 2009. The benchmark index rose 34.2 points or 6.2% since last month and has so far risen 146% from the low in February 2009.

The market trend is still strong upwards with the short to long term moving averages increasing. Click here for more and look for Market Insight