Shares performed well on the HCM Stock Exchange on Tuesday on the efforts of energy and beverage stocks following news about the State’s divestment from largest brewer Sabeco and a jump in oil prices.
Vietnamese shares plunged on Monday as investors turned cautious before exchange-traded funds (ETFs) started restructuring their portfolios. A lack of information during the year-end period also had an impact on confidence.
Shares bounced back slightly on Friday on the HCM Stock Exchange but slipped on the Hà Nội bourse, affected by the somber result of the State Capital Investment Corporation’s (SCIC) divestment from Vinaconex.
Shares tumbled for a third straight day on the HCM Stock Exchange on Thursday but rose on Hà Nội’s bourse as money inflow channeled into small- and mid-cap stocks.
The Bank for Agriculture and Rural Development of Việt Nam (Agribank) and Bảo Việt Holdings signed a co-operation agreement on Wednesday.
The benchmark VN-Index declined for a second day on Wednesday, dropping 0.59 per cent to close trade at 947.64 points.
Shares suffered strong correction on Tuesday on the two stock exchanges after a three-week rally came under heavy profit-taking pressure.
November’s uptrend in Việt Nam’s stock market could extend on the back of strong capital inflows from both domestic and foreign investors, analysts say.
Shares rose on both local markets on Friday following a deal between OPEC and non-OPEC exporters on extended oil output cuts and expectations for good fourth-quarter earnings reports.
Shares fell slightly on the HCM Stock Exchange as large-cap stocks were hit by profit-taking after the index touched a fresh 10-year high of 960 points.