Shares rebound as banks and energy gain, all eyes on virus measures

added 31.07.2020 19:18

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HÀ NỘI — A rise in beaten down banking and energy stocks helped Vietnamese shares rebound on Thursday as investors pinned hopes on the Government’s drastic measures to tackle the COVID-19 outbreak.

Việt Nam has recorded 48 new COVID-19 cases of the disease since it resurfaced in the community last Saturday, 34 of them in Đà Nẵng.

Investors hoped that drastic action of the Government in the fight against COVID-19 would help curb the pandemic and make investors have faith in the stock market again.

The large-cap VN30-Index, tracking the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, rose 1.48 per cent to close Thursday at 746.02 points.

The banking and energy group outperformed on Thursday and supported the market’s rally with gainers including Bank for Investment and Development of Việt Nam (BID), Techcombank (TCB), Military Bank (MBB), Vietinbank (CTG), HDBank (HDB), Việt Nam National Petroleum Group (PLX), PVPower (POW) and PetroVietnam Gas JSC (GAS).

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