Vietnamese shares posted the second biggest gain in the last month following the Government’s intention to block the spread of coronavirus across the country.
A rise in beaten down banking and energy stocks helped Vietnamese shares rebound on Thursday as investors pinned hopes on the Government’s drastic measures to tackle the COVID-19 outbreak.
Industrial real estate stocks soared on Monday but their gains were not enough to cushion the market, overclouded by a cautious market sentiment.
Shares failed to maintain rally on Monday with market experiencing strong volatility with big variation in large-caps’ prices.
The Việt Nam National Petroleum Group (Petrolimex or PLX) forecast a drop in both revenue and profit this year due to the decline in demand amid the COVID-19 pandemic.
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange dropped 0.31 per cent to end this week at 851.98 points.
According to analysts from MBS Securities JSC, short-term correcting pressures have passed and caused no significant disturbance.