VN-Index soars by 1.25% as US, European stock futures surge

Vietnam's benchmark VN-Index rose 1.25% to 1,261.28 points Wednesday while U.S. and European stock futures rose.

The index closed 15.52 points higher after gaining 1.05 points in the previous session.

Trading on the Ho Chi Minh Stock Exchange increased by 29% to VND14.185 trillion (US$558.7 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw no tickers fall.

GVR saw the biggest jump of 5.1%, followed by BCM and CTG, both up 2.43%.

TPB went up 2.42% and POW closed 2.16% higher.

Foreign investors were net seller to the tune of VND383 billion, mainly selling VHM and MSN.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 1.29%, while the UPCoM-Index for the Unlisted Public Companies Market went up 0.87%.

Globally, U.S. and European stock futures surged on Wednesday as Republican Donald Trump claimed victory in the U.S. presidential election, Reuters reported.

Analysts generally assume Trump's plans for restricted immigration, tax cuts and sweeping tariffs if enacted would put more upward pressure on inflation and bond yields, than rival Democrat Kamala Harris' policies.

In early European trade, concern that higher tariffs under a Trump presidency could deal the region's economy a fresh blow pushed the euro down 1.7% to $1.074 , while euro zone government bond yields fell sharply with German two-year bond yields down 10 basis points at 2.19%.

Euro zone stock futures, however rose sharply, tracking their U.S. peers.

Japan's Nikkei surged over 2.5% as the yen slid, while MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.9%.