Vietnam’s benchmark VN Index climbed 1.36 per cent to close at its highest in nearly two months, with volumes more than doubling the previous session as investors stepped up buying banking shares and blue-chips.

The index surpassed its 580-point resistance level to end at 582.38 points, a level unseen since November 25, 2014, led by PetroVietNam Gas, Vietnam’s top firm by market value, with a 3.18-per cent gain to close near its six-week high.

All banks advanced, with Hanoi-based lender BIDV closing at a 10-month high at 17,400 dong ($0.81) each, while Eximbank also attracted heavy trade to advance 4.69 per cent.

Investors also bet on other blue-chips amid expectations that the government may delay a circular that will cap banks’ loans for stock investments at 5 per cent of a bank’s registered capital from next month. The central bank has yet to announce any delays.

State media had previously reported that the State Bank of Vietnam will keep unchanged the content of the ruling and its February 1 effective date.

Robust trade among investors, mostly domestic, boosted volume on Friday to 184 million shares, much above the five-day average of 104 million, Reuters data showed.

Foreigners turned net buyers of 14.6 billion dong ($684,642) worth of Vietnamese shares on Friday, lowering the net offload value by overseas investors so far this month to 19.7 billion dong, exchange data showed.

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