Shares recover amid hopes for easing of trade tension

Thursday, Jul 12, 2018 12:40

Vietnamese shares made a slight recovery on Thursday morning as investors hoped for the improvement of trade relations between China and the US. — Photo

Vietnamese shares rose in the Thursday morning session as worries eased amid hopes for positive discussions between the US and China to resolve their trade tensions.

The benchmark VN Index on the HCM Stock Exchange gained 0.78 per cent to close at 900.13 points. It had fallen a total of 2.65 per cent in the previous three sessions.

The HNX Index on the Ha Noi Stock Exchange advanced 1.69 per cent to end at 100.19 points, recovering from a 3 per cent drop on Wednesday.

The market recovery on Thursday morning was attributed to positive trading of global stocks, which advanced on hopes for improvement of the US-China trade relationship and eased worries across global markets.

On the Vietnamese stock market, improved investor confidence boosted prices of 201 stocks on the two local exchanges while 159 others declined.

Large-cap stocks in the VN30 basket also performed well, pulling the blue-chip index up 0.65 per cent to 886.86 points with 20 of the 30 largest stocks by market capitalisation advancing.

Sixteen of the 20 sectors saw stock prices up, data on showed. Among them, the banking, securities, rubber production, agriculture and IT industry indices recorded the strongest growth rates.

However, investors still seemed cautious regarding the short-term prospects of the stock market, resulting in modest trading liquidity.

More than 72.4 million shares were traded on the two local exchanges, worth VND1.35 trillion (US$60.2 million).

The afternoon trading session starts at 1pm. — VNS

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