December 17, 2015 / 5:03 AM / 2 years ago

Vietnam index rises 0.62 pct after Fed rate hike

HANOI, Dec 17 (Reuters) - Vietnam's shares rose along with
other regional bourses on Thursday after the U.S. Federal
Reserve raised rates for the first time in nearly a decade.
    The U.S. central bank's policy-setting committee raised the
range of its benchmark interest rate by a quarter of a
percentage point to between 0.25 percent and 0.50 percent,
ending a lengthy debate about whether the economy was strong
enough to withstand higher borrowing costs. 
    The rate hike was widely expected and the Vietnam stock
market has already priced in it, analysts said.
    The benchmark VN Index had gained 0.65 percent by the
break, on track for its third consecutive gain. 
    Vietcombank, the country's top lender by market
value, rallied 0.69 percent, while BIDV jumped 3.4
percent.
    Here is a snapshot of the VN Index at midday (0431
GMT).
            VN Index    576.26           
         PREV. CLOSE    572.55           
            % CHANGE    +0.65%           
                                         
                HIGH    579.18           
                 LOW    572.55           
                                         
   Change (%) 1-mnth    -6.018           
   Change (%) 3-mnth     1.493           
   Change (%) 1-year     6.991           
                                         
        52-week high    641.06  15-Jul-15
        52-week low     511.13  25-Aug-15
 
 (Reporting by My Pham; Editing by Subhranshu Sahu)

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