Energy and bank stocks extend rally
Energy and bank stocks extend rally
Shares advanced on the two exchanges this morning, led by bank and energy stocks.
On the HCM Stock Exchange, the VN-Index rallied for the fourth consecutive day, adding 0.5 per cent to close at 572.7 points.
On the smaller bourse in Ha Noi, the HNX-Index too increased 0.24 per cent to stand at 78 points, ending a two-day decline.
Energy stocks recovered after yesterday's slump, when large companies such as PV Gas (GAS), PetroVietnam Drilling and Wells Service (PVD), PetroVietnam Southern Gas (PGS) and PetroVietnam Technical Services (PVS) rose between one per cent and two per cent.
Large banks such as BIVD (BID), Vietinbank (CTG), Sacombank (STB) and Asia Commercial Bank (ACB) also climbed between one and 3.4 per cent each.
The overall market condition was positive, with 27 per cent of the 683 trading stocks advancing and 22.5 per cent falling.
Liquidity remained modest, however, as just about 78 million shares, worth nearly VND1.1 trillion (US$49 million), were traded on the two markets.
The afternoon session will start at 1pm.
