VN-Index rises as global stocks edge up

The index closed 9.39 points higher after gaining 28.67 points in the previous session.

Trading on the Ho Chi Minh Stock Exchange decreased by 27% to VND16.781 trillion (US$671.8 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 18 tickers gained.

VNM of dairy giant Vinamilk saw the biggest growth of 3.0%, followed by SAB of brewer Sabeco with a 2.7% increase and GAS of state-owned Petrovietnam Gas, up 2.3%.

Four blue chips fell. SSI of brokerage SSI Securities went down 0.9% and PLX of fuel distributor Petrolimex slid 0.4%.

HDB of HDBank closed 0.2% lower and FPT of IT giant FPT Corporation dropped 0.1%.

Foreign investors were net seller to the tune of VND311 billion, mainly selling HPG of steelmaker Hoa Phat Group and VHM of Vinamilk.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.37%, while the UPCoM-Index for the Unlisted Public Companies Market went up 0.30%.

Globally, world stocks edged up and the dollar slid on Monday after global equities enjoyed their best week in nine months on expectations the U.S. economy would dodge a recession and cooling inflation would kick off a cycle of interest rate cuts, Reuters reported.

The prospect of lower borrowing costs saw gold hover near historic highs and the dollar dip against the euro, while the yen made a sudden lunge higher that weighed on the Nikkei.

MSCI’s broadest index of world stocks had edged up around 0.2% at 0900 BST. The Nikkei index .N225 closed 1.77% lower at 37,388.62, snapping a five-day winning run that pushed it up 8.7% last week. Chinese blue chips firmed 0.4%.