Friday, 05/10/2019 14:09

Markets gain despite global decline

Vietnamese shares managed to gain on Friday morning despite a sharp drop in global markets after Trump's tariff hike on $200 billion worth of Chinese goods.


The benchmark VN-Index on the Ho Chi Minh Stock Exchange inched up 0.15 per cent to end at 948.43 points.

More than 51.7 million shares were traded on the southern bourse, worth VND1.16 trillion (US$50 million).

Market caution was the main cause for the depletion of liquidity as investors panicked the US tariff hike would spark fears of damage to the global economy.

The large-cap VN30-Index rose 0.22 per cent to stand at 873.40 points with 18 stocks gaining out of the 30 largest by market capitalisation.

Petroleum, securities, banking, food and beverage and agriculture were among the best-performing industries.

Their indices rose between 0.03 per cent and 0.22 per cent, data on showed.

On the opposite side, rubber, information and technology, rubber production and logistics were among the decliners.

On the Ha Noi Stock Exchange, the HNX-Index increased by 0.11 per cent to close at 105.37 points.

Nearly 11.7 million shares were traded on the northern bourse, worth VND123 billion.

The afternoon trading session starts at 1pm.