Vietnam stocks start week higher as European stocks hit 2-week high

Vietnam's benchmark VN-Index rose 0.54% to 1,234.70 points Monday while Europe's main stock index opened at a two-week high.

The index closed 6.60 points higher after dropping 0.23 points in the previous session.

Trading on the Ho Chi Minh Stock Exchange decreased by 6% to VND11.953 trillion (US$470.2 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 18 tickers gained.

POW of electricity producer Petrovietnam Power Corporation saw the biggest increase of 6.6%, followed by VHM of property giant Vinhomes with a 2.6% increase and MSN of conglomerate Masan Group, up 1.7%

Five blue chips fell. BID of state-owned lender BIDV slid 0.33%, SSB of SeABank went down 0.30%, and MBB of lender MBBank closed 0.2% lower.

Foreign investors were net buyers to the tune of VND62 billion, mainly buying MSN and CTG of state-owned lender VietinBank.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.43%, while the UPCoM-Index for the Unlisted Public Companies Market went up 0.11%.

Globally, Europe's main stock index opened at a two-week high on Monday, boosted by U.S. President-elect Donald Trump's Treasury Secretary nomination and upbeat comments by the European Central Bank's chief economist on monetary policy easing, Reuters reported.

The pan-European STOXX 600 was up 0.5%, led by basic resources and personal household goods shares.

Wall Street futures climbed, accompanied by a fall in U.S. Treasury yields, driven by Trump's selection of fund manager Scott Bessent as Treasury secretary, who is expected to keep a leash on U.S. debt.