Vietnam stocks rebound to 2-week high as Asian markets surge

The index closed 6.37 points higher after gaining 5.95 points in the previous session.

Trading on the Ho Chi Minh Stock Exchange decreased by 23% to VND14.28 trillion (US$580 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 22 tickers gained.

SSB of SeABank led with a 6.7% rise, followed by VRE of retail real estate arm Vincom Retail, up 1.6%.

TCB of private lender Techcombank gained 0.9% and CTG of state-owned lender VietinBank closed 0.8% higher.

POW of electricity producer Petrovietnam Power Corporation was the only ticker that dropped with a 1.6% fall.

Foreign investors were net buyers to the tune of VND470 billion, mainly buying SSI of brokerage SSI Securities Corporation and HCM of Ho Chi Minh City Securities Corp.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.35%, while the UPCoM-Index for the Unlisted Public Companies Market went up 0.18%.

Japan's Nikkei jumped 2.3% and stock markets in Australia and Indonesia hit record highs, while bets that stimulus was on the way in China drove down Chinese bond yields and sent Hong Kong and mainland equity indexes up, Reuters reported.

Growing expectation of policy easing drove down Chinese bond yields and lifted the CSI300 blue chip index by 0.7%, with liquor and property stocks leading gains. Hong Kong's Hang jumped 1.9%.