Stocks jump to 6-week high

The index closed 27.12 points higher after dropping 9.42 points in the previous session.

Trading on the Ho Chi Minh Stock Exchange increased by 51% to VND21.04 trillion (US$829 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 29 tickers gained.

SSI of brokerage SSI Securities Corporation gained 6.9%, followed by MWG of electronics retail chain Mobile World, up 5%.

STB of Ho Chi Minh City-based lender Sacombank rose 4.8% and BCM of Becamex Investment and Industrial Development closed 4.3% higher.

BVH of insurance company Bao Viet Holdings was the only blue chip in the red with a 0.2% drop.

Foreign investors were net buyers to the tune of VND675 billion, mainly buying HPG of steelmaker Hoa Phat Group and MSN of conglomerate Masan Group.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 2.22%, while the UPCoM-Index for the Unlisted Public Companies Market went up 0.55%.

Latest data shows that in November, Asian stocks were under selling pressure from foreign investors for a second consecutive month amid worries over potential U.S. tariff hikes on regional exports under the incoming Donald Trump administration next year, Reuters reported.

Foreigners net withdrew $15.88 billion out of equity markets in Taiwan, South Korea, India, Thailand, Indonesia, Vietnam and the Philippines, following a net $15.38 billion worth of sales in the prior month, LSEG data showed. It was their largest monthly net selling since June 2022.