VN-Index increases as European stocks gain

The index closed 11.39 points higher after dropping 11.97 points in the previous session.

Trading on the Ho Chi Minh Stock Exchange increased by 34% to VND17.802 trillion (US$700,5 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 24 tickers gained .

BCM of Becamex Investment and Industrial Development saw the biggest rise of 2.7%, followed by VHM of property giant Vinhomes with a 2.6% increase and TCB of private lender Techcombank, up 2.0%.

Two blue chips fell. MWG of electronics retail chain Mobile World slid 1.2% and GAS of state-owned Petrovietnam Gas went down 0.4%.

Foreign investors were net seller to the tune of VND1.209 trillion, mainly selling FPT of IT giant FPT Corporation and VHM.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.73%, while the UPCoM-Index for the Unlisted Public Companies Market went up 0.80%.

Globally, Europe's main stock index opened higher on Wednesday after a three-session decline, as construction and bank stocks led an overall market recovery, with most safe-haven bids taking a backseat amid easing geopolitical concerns, Reuters reported.

The pan-European STOXX 600 was up 0.6% after touching a three-month low on Tuesday amid an investor rush to safe-haven assets.

The Swiss franc and U.S. government bond prices dipped, while the dollar touched a one-week low in intraday trade.

Meanwhile, UK stocks underperformed regional peers after domestic inflation came in above the 2% target last month, underscoring the Bank of England's cautiousness on rate cuts.