VN-Index climbs for three straight days, backed by banking shares

Vietnam’s stock market made a three-day-winning streak, surpassing 970 points on January 16 as the global stock market rallied after the US and China signed the first stage of the trade agreement and committed to staving off tariff disputes.
The market made a positive increase thanks to the breakthrough of banking stocks with CTG and BID both jumping by nearly 6 percent, ACB gaining 2.6 percent, TCB advancing by nearly 2 percent, HDB surging by nearly 3.2 percent, and MBB climbing by nearly 3 percent. In addition, foreign investors net bought VND43.5 billion in the whole market, of which, purchasing power mainly focused on banking stocks, such as HDB with VND32.58 billion and BID with VND23.6 billion, keeping the market firmly in green.

Vietnam’s benchmark, VN-Index, rose 6.75 points, or 0.7 percent, to close at 974.31 points with 154 winners, 174 losers while 63 stocks were unchanged.

In Hanoi, the HNX-Index also soared 1.13 points, or 1.1 percent, to close at 103.32 points with 54 stocks advancing, 57 declining and 58 standing still.

Market liquidity improved compared to the previous trading session with total trading volume on both trading floors reaching 226 million shares, worth more than VND5 trillion.

In the global stock market, the US stock market also made a new record on January 15. Particularly, the Dow Jones and the S&P 500 closed at an all-time high, adding up 0.3 percent and 0.2 percent to 29,030.22 points and 3,289.29 points respectively. This is the first time in history the Dow Jones has surpassed the 29,000-point mark.

Meanwhile, the Nasdaq also reacted positively when inching up 0.1 percent to close at 9,258.7 points. Not only the US stock market but the UK’s FTSE 100 also strengthened 0.3 percent to close at 7,642.8 points. Japanese Nikkei 225 enhanced 0.13 percent or 31.74 points to 23,948.32 points but the Topix index slid 0.01 percent or 0.14 points to 1,730.92 points.

By Nhung Nguyen – Translated by Gia Bao

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