Banks and retailers help stocks to extend rally
Banks and retailers help stocks to extend rally
Vietnamese shares extended their rallies on both local markets this morning, led by banks and retailers.
The benchmark VN Index on the HCM Stock Exchange gained 1.2 per cent to close at 574.60 points, and the HNX Index on the Ha Noi Stock Exchange was up 0.8 per cent to end at 79.51 points.
The banking sector index added another 1.7 per cent to its Tuesday rally. Vietcombank (VCB) rose 1.2 per cent, the Bank for Investment and Development of Vietnam (BID) jumped 3.5 per cent and Vietinbank (CTG) gained 1.7 per cent.
The retail sector index gained 2.1 per cent, as the largest stocks in this sector improved from yesterday values. Mobile World Investment Corporation (MWG) jumped 3.9 per cent and Saigon General Service Corporation (SVC) surged four per cent.
The stock market also received strong boost from other large stocks such as Bao Viet Holdings (BVH), Vinamilk (VNM) and Vingroup JSC (VIC), which gained 1.4 per cent, 1.6 per cent and 1.5 per cent, respectively.
Duc Long Gia Lai Group JSC (DLG) was the most active stock this morning, with more than five million of its shares being traded, surging 6.1 per cent.
Both local bourses traded 93 million shares, worth nearly VND2 trillion (US$87.8 million).
