VN-Index on 4-session gaining streak as global stocks set for monthly gains

The index closed 2.40 points higher after gaining 0.03 points in the previous session.

Trading on the Ho Chi Minh Stock Exchange decreased by 4% to VND13.521 trillion (US$543.6 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 17 tickers gained.

TCB of private lender Techcombank saw the biggest growth of 1.5%, followed by HDB of lender HDBank with a 1.3% increase and MWG of electronics retail chain Mobile World, up 1.0%.

Eight blue chips fell. BID of state-owned lender BIDV declined by 0.8% while POW of electricity producer Petrovietnam Power Corporation and SSI of brokerage SSI Securities Corporation both closed 0.74% lower.

Foreign investors were net buyers to the tune of VND64 billion, mainly buying FPT of IT giant FPT Corporation and MWG.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.13%, while the UPCoM-Index for the Unlisted Public Companies Market went up 0.27%.

Global stocks rose on Friday and were set for a fourth straight month of gains despite a bout of heavy selling in early August, as bets on U.S. rate cuts also put the dollar on track for its worst month since November, Reuters reported.

MSCI's broad index of global shares edged 0.1% higher on Friday to head for a 1.8% monthly gain while the dollar index was set for a more than 2.5% monthly decline after also dropping in July.

That marked a stunning recovery from a turbulent start to August when a slew of weaker-than-expected U.S. economic data and a surprise Bank of Japan rate hike wreaked chaos in currency carry trades and drove an Aug. 5 equity sell-off reminiscent of October 1987's "Black Monday."

Europe's Stoxx index rose 0.2% to a record intraday high in early dealings and Britain's FTSE 100 hit a three-month high.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.7%, set for a 2.2% monthly increase.