Vietnam's Stock Market Shows Positive Signs

The VN-Index closed 5.26 points higher, marking a continuation of its upward trend after gaining 2.83 points in the previous session. Trading on the Ho Chi Minh Stock Exchange decreased by 9% to VND12.305 trillion (US$483.5 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 19 tickers gain value. Notably, BVH of insurance company Bao Viet Holdings rose by 3.7%, STB of Sacombank grew 1.9%, and SSB of SeABank increased by 1.5%. On the flip side, seven blue chips fell, with SSI of brokerage SSI Securities Corporation sliding 1.5%, VNM of dairy giant Vinamilk closing 0.9% lower, and POW of electricity producer Petrovietnam Power Corporation dropping 0.8%.

Foreign investors were net sellers to the tune of VND275 billion, primarily selling FPT of IT giant FPT Corporation and VCB of state-owned lender Vietcombank. Meanwhile, the HNX-Index for stocks on the Hanoi Stock Exchange rose 0.64%, and the UPCoM-Index for the Unlisted Public Companies Market went up 0.31%.

Global shares were also on the rise, driven by a U.S. inflation reading that offered hope for further policy easing next year, along with relief over Washington's avoidance of a government shutdown. The MSCI All-World index, which has gained 16% this year, was up 0.2% on the day. European markets, however, continued to struggle, with the STOXX 600 heading for its worst quarterly performance in 2-1/2 years.