The VN-Index (VNI) rebounded 4.3% in May after declining 5.8% in April. Despite strong foreign net selling and the dismissals of several high-ranking officials of the country, the VNI still managed to gain 4.3%, closing the month at 1,261.7. The increase of the VNI was attributed partly to:

1) Increases in US stock markets (S&P500 +4.8% MoM & Nasdaq Composite +6.9% MoM).

2) Petro Vietnam’s announcement on new oil discoveries.

3) Divestment plans of several companies.

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