Vietnam stocks gain little as global markets steady

Vietnam’s benchmark VN-Index rose 0.08% to 1,245.76 points while global markets showed stability as investors waited for the result of the U.S. election. The index closed 1.05 points higher after dropping 10.18 points in the previous session.

Trading on the Ho Chi Minh Stock Exchange decreased by 31% to VND10.982 trillion.

The VN-30 basket, comprising the 30 largest capped stocks, saw 11 tickers gained.

GVR of Vietnam Rubber Group led with a 1.7% rise, followed by SHB of Saigon Hanoi Commercial Bank, up 1%.

POW of electricity producer Petrovietnam Power Corporation went up 0.9% and HPG of steelmaker Hoa Phat Group closed 0.8% higher.

Nine blue chips fell. CTG of state-owned lender VietinBank dropped 1.8% and BID of state-owned lender BIDV declined by 0.6%.

Foreign investors were net sellers to the tune of VND854 billion. They have been net selling non-stop for the last eight weeks.

They mainly net sold MSN of conglomerate Masan Group and VHM of property giant Vinhomes.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.18%, while the UPCoM-Index for the Unlisted Public Companies Market went up 0.30%.

Globally stocks were steady on Tuesday but implied volatility ratcheted up in currency markets in an early indication of the market frenzy to come, as the world awaits the outcome of a knife-edge U.S. election, Reuters reported.

Europe’s benchmark STOXX index edged down 0.2% while MSCI’s broadest index of Asia-Pacific shares outside Japan inched 0.7% higher, as stock markets held their breath ahead of Wednesday’s open.

China’s blue chip CSI300 jumped 2.5% and Hong Kong’s Hang Seng rose 1.4%.