Investors cheer US tariff delay

Screens show stock prices. Vietnamese shares on Wednesday were bouyed by the US decision to postpone a 10 per cent tariff on US$300 billion worth of Chinese products. — Photo tinnhanhchungkhoan.vn

HÀ NỘI — Vietnamese shares recovered on Wednesday morning, driven by technology, insurance and retail sectors.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange edged up 0.44 per cent to close at 971.10 points.

The VN-Index fell 0.87 per cent on Tuesday.

Nearly 73.7 million shares were traded on the southern bourse, worth VND1.6 trillion (US$69.5 million).

Technology, insurance and retail sectors were the driving force of the stock market.

The three industry indices gained between 1.4 per cent and 1.8 per cent, data on vietstock.vn showed.

They were followed by agriculture, home appliances, rubber, construction, and food and beverage sectors.

The market sentiment was good after the US President Donald Trump postponed a new 10 per cent tariff imposed on $300 billion Chinese products.

The tariff will be delayed until December 15 instead of taking effect on September 1.

Global markets also cheered the news.

On the Ha Noi Stock Exchange, the HNX-Index inched up 0.07 per cent to end at 102.36 points.

The northern market index dropped 0.51 per cent on Tuesday.

More than 19.3 million shares were traded on the northern bourse, worth VND264.5 billion.

The afternoon trading session starts at 1pm. — VNS

Tags stock market VN Index HNX Index US-China trade war

Shrimp exports surge in 10 months, generating US$3.2 billion

Economy

E-commerce connection and development forum opens this month

Economy

Chu Lai Port starts new direct shipping route to US

Economy

Bilateral trade turnover between Việt Nam and Mongolia triples

Economy

Fashion manufacturing plant worth $20 million given green light in Bình Định

Economy

Appliance, cleanroom and high-tech factory exhibition to be held this week

More on this story

Economy

Experts oppose to private placement of start-ups

The regulation on the private placement shares of a start-up company is sparking opposing public opinions as the regulation can pose potential risks and create overlaps with other laws

Economy

Yuan price reduction affects on local industry: experts

The sudden depreciation of Chinese yuan against the US dollar brings more difficulties to Việt Nam’s yarn industry, according to Việt Nam Textile and Apparel Association.

Economy

High-tech FDI shouldn’t be taken for granted

Việt Nam has emerged as a destination for large tech firms as the trade dispute between the US and China continues to intensify with no end in sight. However, whether and how much Việt Nam can take advantage of the shifting of FDI flow out of China remains to be seen.

Economy

Draft circular on gold business licensing released

The State Bank of Vietnam (SBV) has publicised a draft circular that would adjust existing regulations managing gold trading, Thời báo Kinh tế Việt Nam (Vietnam Economic Times) newspaper reported.

Economy

FPT’s strong performance continues

FPT Corporation reported pre-tax profit of VNĐ399 billion (US$17.2 million) on revenues of VNĐ2.25 trillion ($96.98 million) in July, year-on-year increases of 31.7 per cent and 19.6 per cent.

Economy

Sharing economy project approved

According to the Ministry of Planning and Investment (MPI), a sharing economy is a new business model which takes advantage of technology to cut costs and reach customers through digital platforms.

Economy

Lai Châu hydropower plant holds national security importance

The Lai Châu hydropower plant, a major facility on the Đà River, has been listed as an important work related to national security.

Economy

Post-merger stock exchange headquarters in Hà Nội

The two national stock exchanges will be merged into one single stock exchange, instead of the initial plan under which the two current bourses will operate independently under the control and ownership of a new state-owned company.