Food and beverage stocks lift markets
Food and beverage stocks lift markets
Vietnamese shares rose slightly this morning on both local markets, while the food and beverage sector made good gains.
The benchmark VN Index on the HCM Stock Exchange and the HNX Index on the Ha Noi Stock Exchange inched up 0.1 per cent each to close at 575.19 points and 80.67 points, respectively.
The food and beverage sector was lifted by Masan Group (MSN), which added 2.1 per cent after its member company Anco bought a 14 per cent stake in the Vietnam Meat Industries Limited Company (VISSAN) this morning.Other stocks in the sector that also rose included dairy firm Vinamilk (VNM) and confectionery producer KIDO Group (KDC), which gained 0.8 per cent and 0.4 per cent, respectively.
Plastic producers also recorded major gains, such as Binh Minh Plastic JSC (BMP), Tien Phong Plastic JSC (NTP) and Dong A Plastic JSC (DAG). These stocks added 5.6 per cent, 2.8 per cent and 3.6 per cent, respectively.
However, energy stocks suffered the heaviest fall this morning as oil prices slipped below US$40 a barrel yesterday.
Among these stocks, PetroVietnam Gas Corporation (GAS) dropped 1.3 per cent, and PetroVietnam Drilling and Well Service Corporation (PVD) fell 2.3 per cent.
Both local markets traded more than 112 million shares, worth VND1.46 trillion ($65 million).
