Vietnam's benchmark VN Index surged 2.91 percent to a near five-month high on Friday, before closing at 592.48, with banking shares and real estate stocks leading the gains. The index rose due to foreign buying amid upbeat earnings results and as higher oil prices boosted market sentiment, analysts said, adding they expect the gains to extend further.
Stocks of four out of Vietnam's six listed lenders rose, with Vietcombank shares outperforming the market with a 6.53-percent jump to near a five-month high after the company posted a 62 percent increase in its first-quarter net profit. The index, Southeast Asia's best performer in 2015, posted its biggest intra-day percentage jump since January 25. Trading volume was 140.76 million shares, well above the five-day average of 124.9 million, Reuters data showed.
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