VN-Index surpasses 1,200 points

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Vietnam’s stock market crossed a record high of 1,200 points in the trading session on March 18 as the information that the US Federal Reserves (FED) would not raise its interest rate until 2023 affected positively the stock markets. The US Dow Jones also surpassed the 33,000-point mark for the first time.
During the trading session, the VN-Index hovered around the 1,200-point mark because the trading system on the Ho Chi Minh City Stock Exchange (HoSE) continued to face network congestion. However, at the end of the trading session, this indicator unexpectedly hiked, exceeding 1,200 points. The benchmark’s breakthrough was mainly contributed by banking stocks, including CTG, BID, VPB, TCB, and VCB.

The VN-Index gained 14.85 points, or 1.25 percent, to close at 1,200.94 points, with 250 winners, 178 losers, and 85 unchanged stocks.

Ending the trading session in the Hanoi Stock Exchange, the HNX-Index edged up 0.93 points, or 0.34 percent, to finish at 277.48 points, with 108 winners, 99 losers, and 65 unmoved stocks.

The price of gold in Vietnam also slightly increased on March 18. In HCMC, Phu Nhuan Jewelry Company bought gold at VND55.3 million per tael and sold at VND55.7 million per tael at 4 p.m., an increase of VND150,000 per tael in both buying and selling rates.

At the same time in Hanoi, Saigon Jewelry Company traded gold at VND55.25 million per tael for buying and VND55.67 million per tael for selling, unchanged compared to the previous day.

In the global market, gold climbed by US$14.2 an ounce to $1,746.5 an ounce in New York. Spot gold in the Asian market rallied by nearly $5 an ounce to $1,751.4 an ounce at 11 a.m. Vietnam time. After conversion, this price level is equal to VND48.9 million per tael, lower than the domestic gold price by VND6.8 million per tael.

By Nhung Nguyen – Translated by Thuy Doan

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