US Fed hike boosts local markets
US Fed hike boosts local markets
Domestic investors reacted positively on Thursday to the US Federal Reserve’s decision to hike the benchmark interest rate by a quarter percentage points.
The VN Index on the HCM Stock Exchange went up by 0.34 per cent to stand at 667.4 points.
On the smaller Ha Noi exchange, the HNX Index increased by 0.51 per cent to close at 79 points.
On Wednesday, the US Fed raised key federal funds rate from the current of 0.5 per cent to 0.75 per cent. This is the second hike in a decade. Last December, it had increased the rate from 0.25 to 0.5 per cent.
On Thursday morning, 182 stocks advanced, 165 declined, and 348 remained unchanged.
Among large-cap stocks, brewery giant Sabeco hit the daily rise limit of 7 per cent for the eighth consecutive session since its share debut on December 6. Its shares were trading at VND211,500 (US$9.32) per share, making it the most expensive stock nationwide.
Of the top 30 largest stocks by market capitalisation and liquidity, 13 went up and 13 tumbled. Losers include some of the biggest stocks such as Vinamilk (VNM), VinGroup (VIC), BIDV (BID), PV Gas (GAS) and Masan Group (MSN).
Around 91 million shares worth VND1.7 trillion (nearly $75 million) were traded in the two markets in the morning trade.
The afternoon session starts at 1pm.
