HANOI: Vietnam's benchmark VN Index edged up 0.19 percent to 542.52 points on Monday, buoyed by moderate purchases from investors who expect Vietnam's economic outlook to be stable.
"Long-term investors, including foreigners, considered the dispute between Vietnam and China to be a short-term issue and would not affect Vietnam's macroeconomic outlook," said Doan Thi Anh Nguyet, an analyst with Saigon-Hanoi Securities.
Shares of Vietcombank, Vietnam's biggest listed bank by market value, led the gains with a rise of 2.66 percent, followed by food producer Masan Group with a 1.68 percent advance.
But stocks may fall soon as cautious retailers are likely to offload shares near the index's resistance level of 550 points, Nguyet said.
Vietnam and China are in the midst of a dispute after Beijing's deployment of an oil rig to waters in the South China Sea that Hanoi also claims.
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