Vietnam’s benchmark VN Index rose 1.23 per cent on Friday to close at its highest in a week, with banks outperforming the market amid foreign investors-led buying.
Hanoi-based Vietcombank, the country’s top bank by market value, climbed 3.15 per cent, lender BIDV rallied 6.1 per cent, and VietinBank, Vietnam’s biggest partly-private bank by assets, rose 3.51 per cent.
The combined trading volume of all six banking shares accounted for nearly 14 per cent of the total market volume of more than 300 stocks, partially due to solid buying from foreign investors.
Despite gains in a majority of shares, including a 1.27 per cent gain in PetroVietNam Gas, Vietnam’s top firm by market value, total trading volume dropped to a more than seven-month low of 64.3 million shares, Reuters data showed.