HANOI: Vietnam’s benchmark VN Index climbed 0.77 percent to close at 583.76 points led by strong rallies in the banking sector while other stocks moved mixed amid cautious trade.
Hanoi-based lender BIDV jumped 6.9 percent to a one-year high close at 18,600 dong ($0.87), while VietinBank , Vietnam’s top partly-private bank by assets, climbed 6.86 percent to the highest since July 2013, Reuters data showed.
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All other banks advanced, while the broader market moved mixed on extended cautious trade after a market speculation of an arrest or indictment of a former top banker, dragging Wednesday volume to lower than the five-day average.
The market may move marginally in mixed trade later this week due to the speculation and ahead of the Feb. 1 effective date of a circular limiting banks’ loan for stock investment, said analyst Do Quang Hop of Saigon-Hanoi Securities.
