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 fell 0.19% to 1,260.36 points Tuesday while Asian shares gained as amid reports of a potential boost for the Chinese economy.
The index closed 2.4 points higher after gaining 5.3 points in the previous session.
Trading on the Ho Chi Minh Stock Exchange gained by 30% to VND15.97 trillion (US$627 million).
The VN-30 basket, comprising the 30 largest capped stocks, saw 13 tickers fell.
BID of state-owned lender BIDV dropped 1.3%, followed by HPG of steelmaker Hoa Phat Group with a 1.1% decline.
PLX of fuel distributor Petrolimex fell 0.8% while BVH of insurance company Bao Viet Holdings closed 0.6% lower.
Foreign investors were net sellers to the tune of VND275 billion, mainly selling ACB of Asia Commercial Bank and BID.
The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.07%, while the UPCoM-Index for the Unlisted Public Companies Market went up 0.32%.
Asian stocks edged up on Tuesday, though moves were subdued in a holiday-curtailed week, while the greenback held near a two-year high helped by elevated U.S. Treasury yields as investors prepared for fewer Federal Reserve rate cuts in 2025, Reuters reported.
In China, stocks extended gains slightly on the back of news of more support from Beijing to shore up the country’s stuttering economic recovery.
The CSI300 blue-chip index and Shanghai Composite Index last traded 0.9% higher each. Hong Kong’s Hang Seng Index advanced 1.08%.
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