Thursday, 06 August 2015 00:24
HANOI: Vietnam’s benchmark VN Index climbed 1.05 percent on Wednesday, with many stocks ending the session in positive territory after the Southeast Asian nation reached a free trade agreement with the European Union.
The agreement, which may take several years to be implemented, paves the way for deep cuts in tariffs on almost all goods between their markets.
Analysts said the agreement, though not a surprise, boosted sentiment slightly after some strong sell-off earlier this week on stalled Pacific trade talks that sent the market to its closing low of over a month.
More than 60 percent of Vietnamese shares ended higher, rebounding from the market’s strong base of 600 points, led by top insurer BaoViet Holdings with a 4.35 percent jump and lender BIDV, up 1.69 percent.
