Vietnam index hits 3-mth high, FPT soars on buyout talk


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Vietnam index hits 3-mth high, FPT soars on buyout talk
Vietnam's benchmark VN Index rose 1 percent on Friday to 596.26 points, the highest close since April 11, with technology firm FPT gaining on speculation of a buyout by a company in Silicon Valley, analysts said.
FPT shares jumped 6.28 percent to close at 52,500 dong ($2.48), the highest since May 6, with volume hitting a five-year high of 3.26 million shares, Reuters data showed.
The rumour was carried on several websites locally and could not be immediately verified. A total buyout of a domestic listed firm by an overseas company is not permitted in Vietnam, where foreign stakes are capped at 49 percent.
Other blue chips also advanced, including dairy product maker Vinamilk, which gained 3.1 percent. Property firm Vingroup rose 1.45 percent.
Volume was solid at 144 million shares, well above the five-day average of 117 million, according to Reuters data.
Here is a snapshot of the VN Index at the close (0801 GMT).
VN Index
PREV. CLOSE 590.37
% CHANGE 1.00%
LOW 589.33
Change (%) 1-mnth 3.166
Change (%) 3-mnth 1.734
Change (%) 1-year 18.667
52-week high 609.46
52-week low 462.13

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