An investor looks at stock prices on a screen at a brokerage in Ho Chi Minh City. Photo by Read/Quynh Tran
Vietnam’s benchmark VN-Index rose 0.34% to 1,266 points Wednesday while European shares were mostly unchanged.
The index closed 4.28 points higher after dropping 2.07 points in the previous session.
Trading on the Ho Chi Minh Stock Exchange increased by 6% to VND12.751 trillion (US$500.9 million).
The VN-30 basket, comprising the 30 largest capped stocks, saw 18 tickers gained and 12 fell.
POW of electricity producer Petrovietnam Power Corporation rose 2.0%, HPG of steelmaker Hoa Phat Group went up 1.3%, and PLX of fuel distributor Petrolimex gained 1.0%.
VHM of property giant Vinhomes slid 1.0%, VJC of budget airline Vietjet dropped 0.9%, and VRE of retail real estate arm Vincom Retail closed 0.3% lower.
Foreign investors were net buyers to the tune of VND5 billion, mainly buying FPT of IT giant FPT Corporation and HPG.
The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.24%, while the UPCoM-Index for the Unlisted Public Companies Market went up 0.32%.
Globally, European stocks were little changed on Wednesday as caution prevailed ahead of the Federal Reserve’s policy decision and outlook, outweighing a rise in Renault on talks of a potential merger between carmakers Honda and Nissan, Reuters reported.
The pan-European STOXX 600 was trading flat.
French carmaker Renault rose 6%, lifting automakers by 0.8%. The company owns a 36% stake in Nissan.
The UK’s FTSE 100 rose 0.2% as sterling came under pressure ahead of the Bank of England’s rate decision on Thursday.
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