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Vietnam’s benchmark VN Index climbed 0.77 per cent to close at 583.76 points on Wednesday, led by strong rallies in the banking sector, while other stocks moved mixed amid cautious trade.
Hanoi-based lender BIDV jumped 6.9 per cent to a one-year high close of 18,600 dong ($0.87), while VietinBank , Vietnam’s top partly-private bank by assets, climbed 6.86 per cent to the highest since July 2013, Reuters data showed.
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 February 1 effective date of a circular limiting banks’ loan for stock investment, said analyst Do Quang Hop of Saigon-Hanoi Securities.
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