Markets mixed, property firms gain on package extension
Markets mixed, property firms gain on package extension
Vietnamese shares ended mixed on the two local exchanges this morning, even as property developers and banks benefited from the central bank's latest proposal to increase the housing stimulus package.
The benchmark VN Index on the HCM Stock Exchange struggled to end nearly unchanged at 618.69 points, while the HNX Index on the Ha Noi Stock Exchange inched down 0.1 per cent to close at 81.82 points.
Real estate firms and banks made gains after the central bank proposed the government increase the housing stimulus package to more than VND32.7 trillion (US$1.45 billion) from the current amount of VND30 trillion.
Among the listed property developers, Sai Gon Thuong Tin Real Estate JSC (SCR) gained 1.1 per cent, Kinh Bac City Development Share Holding Corp (KBC) advanced 2 per cent and Vingroup (VIC) was up 1 per cent.
The four largest banks on the national stock market -- Vietcombank (VCB), Sacombank (STB), Vietinbank (CTG) and the Bank for Investment and Development of Vietnam (BID) -- each moved up between 0.2 per cent and 0.9 per cent.
On the other hand, energy stocks extended declines from Tuesday. PetroVietnam Gas Corp (GAS) was down 0.8 per cent and PetroVietnam Technical Service Corp (PVS) fell 1.1 per cent.
Both local markets traded more than 99 million shares worth VND1.56 trillion.
