Illustrative image (Source: VNA)
 
 
Hanoi (VNA) — Shares edged up for a second day on December 15 on both exchanges despite December 14’s decision by the US Federal Reserve to hike its benchmark interest rate.

The VN Index on the HCM Stock Exchange inched up by 0.12 percent to close at 665.9 points. The gauge increased 1.6 percent on December 14.

On the smaller Hanoi exchange, the HNX Index added 0.36 percent to end at 78.9 points, lifting the two-day rally to nearly 1.3 percent.

The overall market condition was positive with 217 stocks advancing, 195 declining and 283 closing flat.

On December 14, the US Fed raised its key short-term rate to a range of 0.5-0.75 percent from 0.25-0.5 percent. This is the second hike in a decade.

Among large-cap stocks, brewery giant Sabeco (SAB) hit the ceiling of a 7 percent rise for the eighth consecutive session to 211,500 VND (9.32 USD) per share, making it the most expensive stock nationwide.

The share has gained 92.3 percent in value since its stock market debut on December 6, making it the second largest share by market capitalisation on the HCM Stock Exchange after Vinamilk (VNM), valued at over 135.6 trillion VND.

On the other end of the spectrum, many losers were large-cap stocks such as Vinamilk (VNM), PV Gas (GAS), lender BIDV (BID), real estate developer VinGroup (VIC), Military Bank (MBB) and PetroVietnam Drilling and Well Services (PVD).

Foreign investors continued to offload local shares in the HCM City’s market yesterday, for the value of nearly 26 billion VND, a strong increase compared to a net value of just 249 million VND on December 14.

In Hanoi, they extended the net buying run to four days in a row for 2.2 billion VND.
Trading value increased 11 percent over December 14, totaling over 3 trillion VND on the two exchanges, but the market volume decreased 34 percent to over 170 million shares.-VNA