An investor points at stock prices on a screen at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam’s benchmark VN-Index rose 0.16% to 1,288.39 points Friday in its fourth session gaining while global markets traded sideways.
The index closed 2.03 points higher after gaining 4.51 points in the previous session.
Trading on the Ho Chi Minh Stock Exchange decreased by 28% to VND13.22 trillion (US$533 million).
The VN-30 basket, comprising the 30 largest capped stocks, saw 15 tickers gained.
VHM of property giant Vinhomes led with a 3.4% rise, followed by VRE of retail real estate arm Vincom Retail, up 3%.
VJC of budget airline Vietjet gained 2.7% and MSN of conglomerate Masan Group closed 1.4% higher.
Twelve blue chips fell.
POW of electricity producer Petrovietnam Power Corporation lost 2.3% and FPT of IT giant FPT Corporation declined 1.5%.
Foreign investors were net sellers to the tune of VND319 billion, mainly selling VHM and FPT.
The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.04%, while the UPCoM-Index for the Unlisted Public Companies Market gained 0.03%.
Global stocks traded sideways on Friday as a stunning rally in Chinese shares paused and investors held back from placing more bets ahead of a much-anticipated update on fiscal stimulus from Beijing this weekend, Reuters reported.
European stock markets were steady, Wall Street futures, were also flat and MSCI’s broadest index of Asia-Pacific shares outside Japan ended the week with a loss after four straight weeks of gains.
The global stock index is near record highs after a burst of late summer volatility sparked by fears of a U.S. recession was eased by the Federal Reserve’s first rate cut of this cycle, where it cut borrowing costs by a jumbo 50 basis points.
