Stocks, gold slightly rise while dollar devalues

Upbeat sentiment spread on the Vietnam’s stock market in the trading session on September 18 with several banking and gas and oil shares recovering as the US Federal Reserve decided not to raise interest rate.
The Vietnam’s benchmark VN-Index regained 3.77 points, or 0.67 percent, to close at 566.25 points with 152 winners, 69 losers and 88 stocks remained unmoved. Trading volume hit 153 million shares worth more than VND2.99 trillion.
The VN30-Index soared 6.05 points, or 1.05 percent, to 582.73 points. Trading volume reached 64 million shares worth nearly VND1.59 trillion.

The HNX-Index won back 0.54 points, or 0.69 percent, to 77.75 points. Of the index members, there were 121 stocks climbing, 64 falling, and 183 stalling. Trading volume was at 56 million shares worth VND653 billion.
The HNX30-Index added up 1.24 points, or 0.86 percent, to 144.49 points. Trading volume touched 27 million shares worth VND303 billion.
Total trading volume increased robustly to nearly VND3.52 trillion while it was around VND1.4-1.7 trillion per trading session earlier.
On the same day, the US dollar exchange rates fell by VND25-50 per dollar. For instance, ACB and Eximbank bought dollars at VND22,440 per dollar, down VND50 per dollar, and sold at VND22,500 per dollar, down VND45 per dollar.
Meanwhile, state-owned banks saw smaller drops in US dollar exchange rate. Vietcombank lowered its exchange rate by VND25 per dollar in both buying and selling price, sending buying rate to VND22,445 per dollar and selling rate to VND22,505 per dollar. Vietinbank fixed its exchange rate at VND22,445 per dollar for buying and VND22,500 per dollar for selling, a decrease of VND40 per dollar in both buying and selling rate. BIDV reduced its dollar purchasing rate to VND22,445 per dollar, a decline of VND40 per dollar, and selling rate to VND22,505 per dollar, a decline of VND35 per dollar.
Although global bullion price strongly surged, the price of gold in Vietnam on September 18 only strengthened by about VND60,000 per tael (1.2 ounces) compared to the previous day.
Saigon Jewelry Company purchased gold at VND34 million per tael and sold at VND34.22 million per tael in Ho Chi Minh City.
In Ha Noi, Doji Gems and Gold Group listed gold price at VND34.14 million per tael for buying and VND34.22 million per tael for selling.

By Nhung Nguyen – Translated by Thuy Doan

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