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Banking & Finance

Stock market recovers during morning trade

Released at: 14:28, 07/02/2018

Stock market recovers during morning trade

Photo: AP/Quartz.

Gains seen in morning trade on February 7 after Dow Jones rallies overnight.

The Dow Jones recovered by 2.33 per cent overnight and prompted recoveries in Asian stock markets this morning, including Vietnam. After two days of decline that wiped $14 billion off the market, increases were seen in the morning session on Vietnam’s stock market on February 7.

The VN-Index increased nearly 34 points (3.41 per cent) to 1,046.05 points, the HNX-Index 3.9 per cent to 120.1 points, and the UPCoM-Index 3.24 per cent to 56.73 points. Trading totaled VND4.3 trillion ($189.4 million).

Banking stocks such as BID, CTG, VCB, ACB, VPB, and HDB, and securities stocks such as SSI, HCM, VND, and SHS all gained greater attention, and large caps such as VRE, DCM, DHG, BVH, FPT, VNM, and VIC made strong gains.

Twenty-eight shares in the VN30 gained ground, with the only loser being MSN, which was down VND1,400 ($0.06).

Market momentum was flat amid cautious demand. Investors may delay returning to the market after sharp declines over the last two days, while Tet is approaching and Asian stock markets are cooling down.

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