VN stocks recover slightly after shock

March 01, 2019 | 16:40

(0) user say

Vietnamese shares progressed on Friday morning as investor sentiment improved after tumbling on the no-deal US-North Korea summit.

Investors at VPBank Securities JSC. Vietnamese shares advanced on Friday morning as investor confidence improved following the Thursday shock.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange rose 0.90 per cent to close at 974.15 points.

The VN-Index shed 2.50 per cent on Thursday – the worst loss since October 11, 2018 – after the US and North Korea ended their summit without a mutual agreement.

More than 89 million shares were traded on the southern bourse, worth VND1.9 trillion (US$81 million).

Investors were clearly more confident after panic hit local stocks hard on Thursday, sending the index down nearly 25 points.

Large-cap stocks performed well on Friday morning. The blue-chip VN30 Index was up 0.65 per cent to end at 910.85 points.

Twenty-two of the 30 largest stocks by market capitalisation in the VN30 basket advanced while six declined.

Among gainers were property developers Vinhomes (VHM), Vincom Retail (VRE), Vingroup (VIC), Sacombank (STB), Vietcombank (VCB) and brewer Sabeco (SAB).

On the Ha Noi Stock Exchange, the HNX Index gained 0.61 per cent to close at 106.50 points.

The northern exchange index fell 1.67 per cent in the previous two days of trading.

The afternoon trading session starts at 1pm.

VNA

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional