Stocks rebound on Hilary Clinton's clean chit
Stocks rebound on Hilary Clinton's clean chit
Shares rebounded from a three-day losing streak this morning as investor confidence rose after Hilary Clinton was cleared of criminal charges, boosting her chance of victory in the US election.
The news helped lift stock indexes across Asia in the early session, including the two in Viet Nam's market.
The benchmark VN Index on the HCM Stock Exchange edged up 0.5 per cent to stand at 670.07 points and the HNX Index on the Ha Noi Stock Exchange moved forward by 0.3 per cent to 80.68 points.
Analysts expect that the Democrat nominee's victory in the presidential election would be an opportunity to improve the current conditions of the local stock market by completing the Trans Pacific Partnership agreement, while the US Federal Reserve (Fed) would increase the rate, which would increase foreign investment in local shares.
Banks and other financial firms took the lead in the market this morning. Among the nine listed banks, five advanced, including Vietcombank (VCB) and Sacombank (STB) with a gain of 1.4 per cent each and Eximbank (EIB) with an increase of 1 per cent.
High gains were also seen in securities and insurance stocks, such as Sai Gon Securities Inc (SSI), HCM Securities Corp (HCM) and insurer Bao Viet Holdings (BVH), which advanced between one per cent and 2.1 per cent each.
Market trading liquidity, however, remained modest with more than 63 million shares being traded with a trading value of VND1 trillion (US$45.8 million).
