VN-Index tiptoes up as global stocks rise

By Minh Hieu   October 28, 2024 | 03:40 am PT
VN-Index tiptoes up as global stocks rise
An investor looks at stock prices on a smartphone at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam's benchmark VN-Index rose 0.16% to 1,254.77 points and global shares gained.

The index closed 2.05 points higher after dropping 4.69 points in the previous session.

Trading on the Ho Chi Minh Stock Exchange decreased by 21% to VND10.863 trillion (US$428.4 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 15 tickers gained.

HPG of steelmaker Hoa Phat Group went up 1.13%, PLX of fuel distributor Petrolimex rose by 1.1%, and ACB of Asia Commercial Bank closed 1.0% higher.

Nine blue chips fell. VHM of property giant Vinhomes slid 2.6%, VNM of dairy giant Vinamilk saw a 1.2% decline and HDB of HDBank went down 0.9%.

Foreign investors were net seller to the tune of VND458 billion, mainly selling MSN of conglomerate Masan Group and HPG.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.01%, while the UPCoM-Index for the Unlisted Public Companies Market went up 0.27%.

Global stocks rose on Monday, ahead of a week stacked with earnings from Wall Street's "Magnificent 7," Reuters reported.

U.S. stock index futures, pointed to an upbeat start on Wall Street later, up 0.5-0.7%, while Europe's STOXX 600 rose 0.4%, as airline stocks drew strength from lower fuel prices.

"There’ll be plenty to test the market nerves with this week's bumper set of data releases, including U.S. payrolls on Friday, and earnings reports, with five of the Magnificent 7 reporting. Meanwhile, the tight U.S. election campaign will enter its final stretch," Deutsche Bank strategist Jim Reid said.

The "Magnificent Seven" are the largest U.S. companies by market value. The five set to report earnings this week are Google parent Alphabet, Microsoft, Facebook owner Meta, Apple and Amazon.

In Japan, Tokyo's Nikkei closed up 1.8%, after initially dipping following the weakest election result since 2009 for the LDP, which has governed the country for most of the post-war era.

 
 
go to top