VN-Index soars as global benchmarks recover

The index closed 15.32 points higher after dropping 7.56 points in the previous session.

Trading on the Ho Chi Minh Stock Exchange decreased by 15% to VND14.277 trillion (US$568.4 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 25 tickers gained.

MWG of electronics retail chain Mobile World experienced the biggest increase of 5.1%, while FPT of IT giant FPT Corporation grew 4.5%, and SSI of brokerage SSI Securities Corporation was up 4.3%.

Four blue chipes fell. VIC went down 1.4%, VHM of property giant Vinhomes saw a 1.1% decline, and VRE of retail real estate arm Vincom Retail slid 0.8%.

Foreign investors were net buyers to the tune of VND57 billion, mainly buying FPT of FPT Corporation and MWG .

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 1.17%, while the UPCoM-Index for the Unlisted Public Companies Market went up 0.74%.

Global shares firmed on Friday, capping a rollercoaster week on a calmer footing after U.S. jobs data eased concerns that the world’s biggest economy was headed for a hard landing, Reuters reported.

Stocks in Japan and elsewhere in Asia gained, taking their cue from a Wall Street bounce back on Thursday when data showed U.S. jobless claims fell more than expected last week, suggesting fears the employment market is unraveling were overblown.

The MSCI All Country stock index was up 0.3% at 784.4 points, recovering much of the ground lost during the week.

The benchmark is 5.7% below its lifetime high of 832.35 reached on July 12, though still up 7.5% for the year.

In Europe, the STOXX index of 600 companies was up 0.7%, with the loss for the week all but erased.

In a sign of calmer nerves, the VIX index, also known as Wall Street’s ‘fear gauge’, was in negative territory, a far cry from its record one-day spike on Monday.

Japan’s Nikkei stocks benchmark closed 0.6% higher, erasing most of the losses since a 12.4% crash on Monday.