Illustrative image (Source: VNA)Hanoi (VNA) - Vietnamese shares on November 25 rose slightly on both local exchanges as retailers made gains after the latest statistics from ANZ bank showed growing consumer confidence.
The benchmark VN Index on the HCM Stock Exchange inched up 0.3 percent to close at 595.70 points and the HNX Index on the Hanoi Stock Exchange was up 0.5 percent to end at 82.06 points.
The retail sector index gained 1.4 percent after Melbourne-based ANZ bank showed that Vietnam's consumer confidence index (CCI) in November gained 1.2 points to stand at 142.3 points, higher than the last year's average of 133.3 points.
"Local consumers are showing they are optimistic about their individual incomes during the last months of the year to buy more household appliances," Saigon-Hanoi Securities Corporation (SHS) said in a report.
Local retailers made gains, led by the conglomerate FPT Corporation (FPT) and Tran Anh Digital World JSC (TAG), which operate in various business sectors including electronics and technological products distribution, and consumer goods retailer Ca Mau Trading Joint Stock Company (CMV).
At the end of November 25, FPT gained 1.8 percent, TAG was up 2 percent and CMV surged 6.4 percent.
The national stock market also received support from energy stocks such as PetroVietnam Gas Corporation (GAS), Materials-Petroleum Joint Stock Company (COM) and Petrolimex Gas Corporation (PGC) on investor expectation that they will benefit from higher global oil prices.
On the global crude market, the US benchmark West Texas Intermediate (WTI) jumped 2.7 percent to trade at 42.87 USD a barrel on November 24 and the Brent crude gained 2.9 percent to trade at 46.12 USD a barrel. WTI crude has gained 6.4 percent from November 20 and Brent crude has risen 3.3 percent.
GAS inched up 0.9 percent, Materials-Petroleum Joint Stock Company (COM) jumped 5 percent and Petrolimex Gas Corporation (PGC) gained 2 percent.
Both local bourses exchanged nearly 208 million shares, worth nearly 2.9 trillion VND (129 million USD), a decrease of 13 percent from November 24.-VNA
