Vietnam bourse sees strongest rise in 2 years
Vietnam’s benchmark VN-Index gained more than 56 points on Tuesday to close at 1.228 points, marking the strongest increase since April 2020.
The Vietnamese stock market rallies on May 17, 2022. Photo by The Investor/Trong Hieu.
The sudden conversion was beyond market predictions as the Ho Chi Minh Stock Exchange, Vietnam's major bourse, sank into the red during the three previous consecutive sessions.
The index closed with 425 stocks gaining and 58 losing.
The list of 10 stocks with the most positive impacts on the index included six banks, namely BID (BIDV), VPB (VPBank) VCB (Vietcombank), CTG (Vietinbank), TCB (Techcombank), and MBB (MBBank). The remainder were companies operating in energy, steel, retail and consumer goods.
Vietnamese investors bought in on Tuesday, while foreign investors generally went the other direction to secure profit after many previous purchases.
The latter sold more than VND1,700 billion ($73.5 million) worth of shares while spending VND1,674 billion ($72.39 million) on purchases.
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