Positive investor confidence strengthens VN stocks

Thursday, Apr 28, 2016 16:03


Investors on Maybank Kim Eng Securities' exchange floor. Local markets struggled to gain this morning on better investor confidence. — VNA Photo



HA NOI (Biz Hub) — Vietnamese shares rose slightly on both local exchanges this morning as investor confidence in blue chips improved after the US central bank kept its rates unchanged.

The benchmark VN Index on the HCM Stock Exchange inched up 0.2 per cent to close at 595.15 points and the HNX Index on the Ha Noi Stock Exchange ended almost flat at 80.33 points.

The financial sector, led by banks and insurance companies, pushed the markets up as investor confidence was bolstered after the US central bank at its meeting on Wednesday decided to keep the same interest rates until June.


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Insurer Bao Viet Holdings (BVH), which was up 0.9 per cent, lifted the insurance industry. Among the banks, Asia Commercial Bank (ACB) rose 1.1 per cent, Sacombank (STB) edged up 1 per cent and Vietcombank (VCB) added 0.9 per cent.

Other blue chips also picked up gains, including dairy firm Vinamilk (VNM), food producer Masan Group (MSN), PetroVietnam Gas Corp (GAS) and software provider FPT Corp (FPT).

The agriculture sector, however, fell as investors booked profits in Hoang Anh Gia Lai JSC (HAG) and HAGL Agricultural JSC (HNG). HAG fell 2.5 per cent and HNG dropped 1.2 per cent.

Both local markets traded more than 73.7 million shares worth VND1.3 trillion (US$58 million). — VNS

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