Vietnam Shares Gain, Forex Market Quiet after Fed’s Move

Tuan Minh

12:02 17/12/2015

BizLIVE - Vietnamese stocks climbed while the financial market was little changed on Thursday morning after the Fed’s interest rate liftoff last night.

Vietnam Shares Gain, Forex Market Quiet after Fed’s Move

Vietnam's financial market reacted mildly to the Fed's rate decision.

The benchmark VN Index of the Hochiminh Stock Exchange rose 0.65% to 576.26 at the break time, off from a high of 579.09 at the open, following gains from the previous two days. Volume was mild with 48.85 million shares worth 870 billion dong ($38.7 million) traded.
The rise in the gauge was driven by financials such as BIDV (BID), VietinBank (CTG), Baoviet Holdings (BVH), Sacombank (STB) and Vietcombank (VCB).
The USD/VND stayed still at banks, commonly 22,517-22,547 dong a U.S. dollar for bid and ask, respectively.
The State Bank of Vietnam, the country's central bank, has not issued any statement regarding the Fed's decision.
The price of the greenback in gold shops in Hanoi increased 30 dong/USD from Wednesday morning to 22,740 a USD for buying and 22,760 a USD for selling.
Prices of SJC-brand gold bar quoted by DOJI slid to 32.96 million dong ($1,465)-33.02 million dong ($1,467) a tael for buying and selling, respectively, down 20,000 dong/tael from late on Wednesday.
Policy makers of the U.S. Federal Reserve (Fed) voted to lift the Fed’s benchmark rate by 0.25 percentage point to a range of 0.25% to 0.5%, marking the first interest rate liftoff in nearly a decade.
The Dow Jones Industrial Average (DJIA) jumped 224.18 points, or 1.28%, to 17,749.09. Other stock indexes of Wall Street also went up.