Vietnam stocks hit 3-year high

The index closed 24.5 points higher after dropping 12.2 points Monday.

VN-Index exceeded the psychological 1,500 level for the first time in over three years thanks to a strong recovery in recent weeks, driven by lower U.S. tariffs for many countries and de-escalating geopolitical tension.

Trading on the Ho Chi Minh Stock Exchange, on which the index is based, dropped 4.7% to VND33.73 trillion (US$1.29 billion).

The VN30 basket, comprising the 30 largest capped stocks, saw 26 tickers in the green.

VJC of budget airline Vietjet led with a 6.9% jump, followed by VIC of private conglomerate Vingroup, up 4.9%.

HDB of HDBank gained 3.9% and VHM of property giant Vinhomes closed 3.8% higher.

Two blue chips dropped. GVR of Vietnam Rubber Group fell 0.5% and TCB of private lender Techcombank closed with a 0.3% decline.

Foreign investors were net sellers to the tune of VND1.87 trillion, mainly selling VJC and SSI of brokerage SSI Securities Corporation.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, gained 0.84% while the UPCoM-Index for the Unlisted Public Companies Market fell 0.24%.