Shares close mixed on rising investor caution

Shares ended mixed this morning on the two exchanges, weighed down by rising investor caution ahead of the United States Federal Reserve's meeting next week.

The VN-Index on the HCM Stock Exchange inched up 0.02 per cent to close at 565.33 points, while the HNX-Index on the Ha Noi Stock Exchange was down 0.34 per cent to end at 79.33 points.

Many analysts predicted that Fed would raise its benchmark interest rate in December and that if this happened, it could force the Vietnamese central bank to further devalue the dong to keep its exports competitive in the global markets.

Blue chips closed mixed. Insurer Bao Viet Holdings (BVH), Sacombank (STB), Kido Group (KDC) and FPT Corp (FPT) increased between 0.2 per cent and 4.6 per cent, but others such as PV Gas (GAS), PetroVietnam Drilling and Wells Service (PVD) and Masan Group (MSN) declined between 0.5 per cent and 1.4 per cent.

Liquidity was low, with 66 million shares worth VND966.5 billion (US$43.1 million) being traded on the two markets.

Real estate developer FLC Group (FLC) was leading the trade nationwide, with more than 6.3 million of its shares being exchanged at VND7,800 each.The afternoon session will start at 1pm.

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