Global stock market surge spurs Vietnam shares
Global stock market surge spurs Vietnam shares
Domestic stocks jumped today, April 17, buoyed by global stock market rallies and encouraging signs of the fight against the novel coronavirus.
According to vietstock.vn, Wall Street rallied as investors were seeing signs of progress in the coronavirus combat. A number of seriously ill Covid-19 patients are responding positively to remdesivir, an experimental drug being developed by Gilead Sciences Inc, an American biotechnology company that focuses on antiviral drugs.
On the U.S. market, the Dow Jones Industrial Average rose 0.14% against the previous day and the S&P 500 added 0.58%. The Nasdaq Composite also edged 139.19 points, or 1.66%, higher.
In Vietnam, the Ministry of Health reported no new Covid-19 cases this morning, keeping the country’s cumulative number of confirmed cases at 268. Of whom, 177 have recovered and been released from hospitals and none has died from the virus.
Closing today’s session, the VN-Index of the Hochiminh Stock Exchange soared 8.9 points, or 1.14%, versus the day earlier at 789.6, extending its winning streak for a fifth consecutive session. There were 309.8 million shares valued at VND5.3 trillion changing hands, improving 23.5% and 33.5% against Thursday, respectively.
In the immediate term, the local market is expected to see further support. Oil prices kept declining in Asia trade and kept boosting local plastic and rubber producers.
Besides this, the State Securities Commission (SSC) will soon launch an electronic one-stop information disclosure system for the stock market. The system will help entities participating in the stock market save time and money when disclosing information and minimize the risk of false disclosures.
On the Hanoi Stock Exchange, the HNX-Index soared 1.72 points, or 1.58%, at 110.46, driven by a huge cash flow into blue-chip stocks. However, insurer PVI came under profit taking pressure after previous gains, falling 1.5% to the intraday low of VND32,000.
