HANOI, Nov 5 (Reuters) - Vietnam's main stock index ended sharply higher on Wednesday, tracking gains in other Asian markets, where sentiment was lifted by the U.S. presidential election.
The Ho Chi Minh Stock Exchange .VNI, Southeast Asia's worst performer this year, rose 4.52 percent to close at 377.83, racking up its sixth consecutive day of gains. Even so, the index has lost nearly 60 percent this year.
Traders said expectation that U.S. stocks could recover after the election helped Vietnam's markets.
Democrat Barack Obama will be sworn in as the 44th U.S. president on Jan. 20, 2009 and will face the daunting task of reviving an ailing economy that is the largest buyer of Vietnamese goods.
Vietnamese bank shares retained their position as the best performers on Wednesday, when central bank interest rate cuts announced earlier in the week came into effect.
Sacombank STB.HM shares jumped to the daily ceiling, closing at 24,200 dong after the Ho Chi Minh City-based bank said it would buy back 25 million shares.
In Hanoi, Asia Commercial Bank ACB.HN ended 5.33 percent up at 47,400 dong and the over-the-counter market .HASTCI closed 5.55 percent higher at 125.23. ($1=16,513 dong) (Reporting by Pham Hong Hanh)
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