Shares advance on trade negotiations
Positive news from the US-China negotiations last week brought prosperity to Việt Nam’s stocks on Monday morning.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange rose 0.39 per cent to end the session at 995.67 points.
Some 105.5 million shares worth more than VND2 trillion (US$86 million) were traded on the southern market.
The VN-Index finished last week at 991.84 points, up 0.43 per cent from the previous one.
US President Donald Trump last Friday outlined the first phase of a deal to end a trade war with China and suspended a threatened tariff hike.
As a result, US stocks advanced thanks to a sentiment boost. The Dow Jones Industrial Average rose 319.92 points, or 1.21 per cent, to 26,816.59; the S&P 500 gained 32.14 points, or 1.09 per cent, to 2,970.27; and the Nasdaq Composite added 106.27 points, or 1.34 per cent, to 8,057.04.
Twenty of the top 30 shares by market value and liquidity gained value and only eight lost. The other two remained unchanged.
Large-caps such as Bao Viet Holdings (BVH), FPT Corporation (FPT), Petro Vietnam Gas JSC (GAS), Vinamilk (VNM), Vingroup (VIC) and Vietjet Air (VJC) all climbed.
By sector, speculative stocks such as real estate, construction and petroleum were booming.
On the Ha Noi Stock Exchange, the HNX-Index climbed 0.93 per cent to end the morning at 106.24 points.
Some 17.5 million shares worth VND276 billion were exchanged.
The HNX-Index ended last week at 105.26 points, nearly unchanged from the previous week’s end of 105.16 points.
The afternoon session starts at 1pm.