Vietnamese shares on December 2 rose on both local exchanges, snapping a four-day decline, led by positive company news for small-cap and medium-cap stocks.
Investors monitor shares at the VNDirect Securities (Photo: VNA)
Hanoi (VNA) - Vietnamese shares on December 2 rose on both local exchanges, snapping a four-day decline, led by positive company news for small-cap and medium-ca🐠p stocks.
The benchmark VN Index on the HCM Stock Exchange was up 0.7 percent to close at 574.42 points and the HNX Index on the Hanoi Stock Exchange inched up 0.3 percent to end at 80.54 points.
Good company news helped boost small- and medium-cap stocks, such as agricultural firm Hoang Anh Gia Lai Joint Stock Company (HAGL), property developer Tan Tao Investment Industrial JSC and support service provider Hanoi Investment General Corporation.
HAGL (HAG) jumped 5 percent after the company decided to pay dividend to its shareholders by issuing additional shares in its subsidiary HAGL Agricultural JSC (HNG) for them.
Tan Tao Investment Industrial JSC (ITA) gained 3.3 percent after the company sold its entire ownership in the property project ITA 276 in HCM City for 18.5 million USD.
Hanoi Investment General Corporation (SHN) surged 7.4 percent after sold its 6.5 million shares in the Sapa – Geleximco Joint Stock Company and 3 million shares in Tan Hoang Cau JSC to earn 383 billion VND (17 million USD).
In addition, the national stock market was also boosted by the banking sector, whose index gained 1.2 percent after the World Bank said it expects Vietnam's central bank not to tighten its fiscal policy in short term, Saigon-Hanoi Securities Corporation (SHS) wrote in a report.
That expectation came after the World Bank forecast Vietnam's GDP growth rate this year would be 6.5 percent and rise to 6.6 percent next year on an increase of investment and individual consumption, SHS said.
That information brought some positive impact on the banking sector as banks such as Vietcombank, the Bank for Investment and Development of Vietnam (BIDV), Sacombank and Vietinbank made gains.
Vietcombank (VCB) inched up 0.2 percent, BIDV (BID) gained 2.4 percent, Sacombank (STB) jumped 2.8 percent and Vietinbank (CTG) was up 1.6 percent.
Both local bourses traded more than 147 million shares, worth 1.9 trillion VND (88.2 million USD), a decrease of 11 percent from December 1.-VNA
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Investors monitor shares at the VNDirect Securities (Photo: VNA)
