Investors cheer US tariff delay

Wednesday, Aug 14, 2019 12:45

Screens show stock prices. Vietnamese shares on Wednesday were bouyed by the US decision to postpone a 10 per cent tariff on US$300 billion worth of Chinese products. — Photo

Vietnamese shares recovered on Wednesday morning, driven by technology, insurance and retail sectors.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange edged up 0.44 per cent to close at 971.10 points.

The VN-Index fell 0.87 per cent on Tuesday.

Nearly 73.7 million shares were traded on the southern bourse, worth VND1.6 trillion (US$69.5 million).

Technology, insurance and retail sectors were the driving force of the stock market.

The three industry indices gained between 1.4 per cent and 1.8 per cent, data on showed.

They were followed by agriculture, home appliances, rubber, construction, and food and beverage sectors.

The market sentiment was good after the US President Donald Trump postponed a new 10 per cent tariff imposed on $300 billion Chinese products.

The tariff will be delayed until December 15 instead of taking effect on September 1.

Global markets also cheered the news.

On the Ha Noi Stock Exchange, the HNX-Index inched up 0.07 per cent to end at 102.36 points.

The northern market index dropped 0.51 per cent on Tuesday.

More than 19.3 million shares were traded on the northern bourse, worth VND264.5 billion.

The afternoon trading session starts at 1pm. — VNS

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