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VCSC Daily - Market up as speculators gain confidence - MWG, NT2, PDR, PNJ

Market up as speculators gain confidence. In today’s session, hot money poured back into the market especially to banking stocks, driving the market up 10 pts (1.82%) by close. News of a new policy to fast track the foreign ownership limit (FOL) relaxation process, a 3% increase in oil prices and broad recovery in global markets were the main factors boosting sentiment; all major global indices – including the Shanghai Composite and Dow Jones Industrial Average – witnessed a strong recovery.