Vietnam shares volatile on Trump worries
Shares were volatile on the two local exchanges on November 11 with lower trading liquidity as investors worried over the potential economic policies from US president-elect Donald Trump.
The benchmark VN Index on the HCM Stock Exchange gained 0.2% to close at 679.2 points, extending a two-day increase of 1.3%.
Meanwhile, the HNX Index on the Hanoi Stock Exchange was choppy and fell 0.2% to 81.19 points.
Real estate and construction companies were the strongest gainers, driven by Vingroup JSC (VIC), FLC Group (FLC) and Faros Construction Corp (ROS).
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| A board displays stock values on Ba Trieu street, Hanoi. |
FLC jumped 3.9% after the group announced its pre-tax profit for the past ten months was VND1.2 trillion (US$53.3 million) on November 11, reaching the company’s projected profit for this year.
ROS surged 7% to soar 14.4% in the last two sessions. VIC gained 2.8% to increase 3.5% during the same period.
Significant gains were also seen in the stocks of natural rubber companies and coal mining businesses as both rubber and coal prices set one-year highs during the sessions, BIDV Securities Corp (BSC) said in a note.
Those stocks included Phuoc Hoa Rubber JSC (PHR), Dong Phu Rubber JSC (DPR), Vinacomin Nui Beo JSC (NBC) and Vinacomin Ha Tu Coal JSC (THT).
Finance-banking shares struggled. Of the nine listed banks, none of the large-cap bank stocks made gains.
Securities firms and insurance companies also performed poorly, dragged down leading stocks such as insurer Bao Viet Holdings (BVH), Bao Viet Securities Corp (BVS), HCM Securities Corp (HCM) and Sai Gon Securities Inc (SSI).
Liquidity continued to slide with more than 156 million shares exchanged, worth VND2.2 trillion. The figures were down nearly 15% in value and 6.9% in volume.
