Business

Vietnamese shares climb on TPP hopes

Shares climbed on October 5 on the nation's two exchanges on brightening export prospects driven by the Trans Pacific Partnership (TPP) free trade agreement.
Vietnamese shares climb on TPP hopes ảnh 1Investors observe market developments at the Tan Viet Securities trading floor. (Source: VNA)

Shares climbed on October 5 on the nation's two exchanges on brightening export prospects driven by the Trans Pacific Partnership (TPP) free trade agreement.

On the HCM Stock Exchange, the VN-Index gained 1.4 percent, closing the session at 570 points. Meanwhile, the HNX-Index on the Hanoi Stock Exchange added another 0.7 percent to end the day at 78.8 points, extending its winning streak to four sessions in a row.

Stocks of exporting companies that are forecast to benefit most from the TPP were the biggest gainers on October 5.

Garment companies such as Thanh Cong Textile Garment Investment Trading (TCM), TNG Investment and Trading (TNG), MiraeCo (KMR) and seafood exporter Hung Vuong Corp (HVG) all climbed between 5 percent and 7 percent.

Large-cap companies also advanced strongly on October 5. Dairy giant Vinamilk (VNM) rose 3 percent, insurer Bao Viet Holdings (BVH) jumped 4.4 percent and Vietinbank (CTG), the biggest listed lender, gained 2.6 percent.

In HCM City's market, both trading volume and value grew 20 percent over October 2, totaling nearly 99 million shares worth 1.76 trillion VND (78.2 million USD), higher than September's average of 93.4 million shares and 1.5 trillion VND (66.7 million USD).

On the Hanoi's exchange, the similar figures on October 5 were 41 million shares worth over 434 billion VND (19.3 million USD), also higher than the daily trading average of 35.3 million shares and 401 billion VND (17.8 million USD) seen in September.-VNA

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