VN stocks rise, led by energy stocks
VN stocks rise, led by energy stocks
Vietnamese shares rose this morning on both local markets, led by energy stocks, after global oil prices recovered during yesterday session.
The benchmark VN Index on the HCM Stock Exchange gained 0.5 per cent to close at 540.56 points, and the HNX Index on the Ha Noi Stock Exchange inched up 0.2 per cent.
The energy sector index was up 0.9 per cent after London-traded Brent crude jumped 3.6 per cent yesterday to close trading at $31.59 a barrel, and American benchmark crude West Texas Intermediate (WTI) rose 3.2 per cent to close at $31.31 a barrel.
Among local energy stocks, PetroVietnam Gas Corporation (GAS) increased by 2.8 per cent, PetroVietnam Drilling and Well Services Corporation (PVD) gained 2.4 per cent, and PetroVietnam Mud Drilling Corporation (PVC) jumped 3.2 per cent.
Higher oil prices also boosted investor confidence, which benefited large-cap stocks on both local markets.
Insurance companies and brokerage firms helped raise the market. Insurance firms Bao Viet Holdings (BVH) and PVI Holdings (PVI) were up 1.4 per cent and 2.4 per cent, while brokerage firms Sai Gon Securities Incorporation (SSI) and VNDirect Securities Corporation (VND) rose two per cent and 1.8 per cent, respectively.
Both local markets traded more than 103 million shares, worth VND1.2 trillion ($55 million).
