Vietnam stocks start week in red as global shares rise slightly

The index closed 12.45 points lower after dropping 4.64 points in the previous session.

Trading on the Ho Chi Minh Stock Exchange increased by 21% to VND13.485 trillion (US$549.4 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 25 tickers fell.

POW of electricity producer Petrovietnam Power Corporation saw the biggest drop of 3.9%, followed by VHM of property giant Vinhomes with a 2.9% decline and GAS of state-owned Petrovietnam Gas, down 2.3%.

Only one blue chip gained, which was GVR of Vietnam Rubber Group with a 0.9% increase.

Foreign investors were net buyers to the tune of VND219 billion, mainly buying VCB of state-owned lender Vietcombank and MWG of electronics retail chain Mobile World.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.68%, while the UPCoM-Index for the Unlisted Public Companies Market went down 0.48%.

Global stocks edged up for a sixth day on Monday, in a week that is almost certain to see the start of an easing cycle in the United States that investors believe may begin with an outsized move, Reuters reported.

As European trading got up and running, the MSCI All-World headed for a sixth straight rise, up 0.1%. The index has rallied 10% in the last six weeks as enthusiasm around a chunky Fed rate cut has boosted stocks.

A slew of public holidays across Asia kept equity market activity subdued.