Shares gain on hopes of Government virus measures

July 30, 2020 | 16:20

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Vietnamese shares rose on Thursday morning on the back of a resurgence in banking stocks and hopes of the Government’s drastic measures to tackle the COVID-19 outbreak.

shares gain on hopes of government virus measures

The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) gained 0.92 per cent to end trading at 798.08 points.

Nearly 104 million shares were traded on the southern bourse, worth VND1.7 trillion (US$73.5 million).

Market breadth was positive with 113 shares falling and 223 gaining.

VN-Index had lost 2.77 per cent to end Wednesday at 790.84 points.

Viet Nam has recorded 43 cases of the disease since it resurfaced in the community last Saturday, 34 of them in Da Nang.

As of Thursday the nation has had 459 cases, 90 of them active.

Ha Noi, where two men were reported to have contracted COVID-19 late Wednesday, has closed bars and banned crowded events like festivals and fairs from Wednesday night.

The two patients, one a 23-year-old from Nam Tu Liem District and the other a 76-year-old from Tay Ho District, are thought to have contracted the disease in Da Nang, now Viet Nam's COVID-19 hotspot.

Investors pin hopes on drastic action of the Government in the fight against COVID-19, having their faith in the stock market again.

On the Ha Noi Stock Exchange, the HNX-Index rose 0.71 per cent to end at 107.62 points.

It had lost 1.04 per cent to end Wednesday at 106.85 points.

More than 17.4 million shares were traded on the northern exchange, worth VND154 billion.

VNA

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