Vietnamese shares climb on TPP hopes

16:22 | 06/10/2015 Economy

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

Vietnamese shares climb on TPP hopes

Photo: biz.hub - VNS

On the Ho Chi Minh Stock Exchange, the VN-Index gained 1.4%, closing the session at 570 points. Meanwhile, the HNX-Index on the Hanoi Stock Exchange added another 0.7% 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% and 7%.

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

In Ho Chi Minh City's market, both trading volume and value grew 20% over October 2, totaling nearly 99 million shares worth VND1.76 trillion (US$78.2 million), higher than September's average of 93.4 million shares and VND1.5 trillion (US$66.7 million).

On Hanoi's exchange, the similar figures on October 5 were 41 million shares worth over VND434 billion (US$19.3 million), also higher than the daily trading average of 35.3 million shares and VND401 billion (US$17.8 million) seen in September./.

Source: NDO/VNA