An investor looks at stock prices on a smartphone at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam’s benchmark VN-Index rose 0.82% to 1,287.48 points Wednesday while global stocks fell.
The index closed 10.49 points higher after gaining 8.51 points in the previous session.
Trading on the Ho Chi Minh Stock Exchange increased by 27% to VND22.791 trillion (US$926.6 million).
The VN-30 basket, comprising the 30 largest capped stocks, saw 23 tickers gained .
POW of electricity producer Petrovietnam Power Corporation went up 3.6%, SSI of brokerage SSI Securities Corporation closed 3.2% higher, and STB of Ho Chi Minh City-based lender Sacombank grew 2.7%.
Seven blue chips fell. VNM of dairy giant Vinamilk slid 1.0%, BVH of insurance company Bao Viet Holdings went down 0.7%, and VJC of budget airline Vietjet Air dropped 0.5%.
Foreign investors were net buyers to the tune of VND525 billion, mainly buying FPT of IT giant FPT Corporation and VCB of state-owned lender Vietcombank.
The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.65%, while the UPCoM-Index for the Unlisted Public Companies Market went down 0.34%.
Stocks globally slipped on Wednesday, with a continued stimulus-fueled rally in China the one bright spot, Reuters reported.
European stocks fell 0.1%, after gaining nearly 1% on Wednesday. Oil and gas shares led the losses, falling 0.9% on concerns China’s stimulus plans would not do enough to boost demand.
Wall Street was set for losses, too, with S&P 500 futures down 0.2%.
The strong start for Chinese stocks briefly invigorated other regional indexes, but those gains soon fizzled. MSCI’s broadest index of Asia-Pacific shares outside gained 0.3%.
