Markets advance further on banks, brokerages
Markets advance further on banks, brokerages
Shares rose further on both local markets on Monday morning, boosted by banking-finance companies.
The benchmark VN Index on the HCM Stock Exchange gained 0.18 per cent to close at 777.90 points.
The HNX Index on the Ha Noi Stock Exchange added 1.19 per cent to end at 100.32 points.
Each index posted a weekly gain of 1.1 per cent in the previous trading week.
More than 154.2 million shares were exchanged on both local bourses, worth VND2.52 trillion (US$112.2 million).
The stock market was lifted by the impressive performance of finance-banking shares, which were forecast to increase further by analysts on expectations that companies in this sector would produce good earnings reports for the second quarter.
Seven of the eight large-cap banks advanced, with Sai Gon-Ha Noi Bank (SHB) jumping 5.3 per cent, while others such as Asia Commercial Bank (ACB), BIDV (BID) and Vietinbank (CTG) rose between one per cent and two per cent each.
Among brokerage firms, Sai Gon-Ha Noi Securities (SHS), MB Securities (MBS), VNDirect Securities (VND), HCM City Securities (HCM) and BIDV Securities (BSI) were among the largest gainers.
The afternoon session starts at 1pm.
