Food and beverage stocks lift VN markets
Food and beverage stocks lift VN markets
Vietnamese shares rose on both local exchanges this morning, led by the food and beverage sector.
The benchmark VN Index on the HCM Stock Exchange and the HNX Index on the Ha Noi Stock Exchange added 0.4 per cent each to close at 558.17 points and 78.82 points, respectively.
The food and beverage sector lifted the markets as the two largest stocks, dairy firm Vinamilk (VNM) and food producer Masan Group (MSN), rose 1.5 per cent and 0.7 per cent, respectively.Other stocks such as seafood company Hung Vuong JSC (HVG) and confectionery corporation KIDO Group (KDC) also helped to lift the markets.
Brokerage firms also made good gains. FIT Investment JSC (FIT) surged 5.9 per cent, while VNDirect Securities Corporation (VND) and Kim Long Securities Corporation (KLS) jumped 4.5 per cent and 4.9 per cent, respectively.
However, energy stocks extended their losses as oil prices slipped further, as American stockpiles are expected to expand.
PetroVietnam Gas Corporation (GAS) and PetroVietnam Mud Drilling Corporation (PVC) were down 0.8 per cent each, while PetroVietnam Drilling and Well Service Corporation (PVD) lost 1.8 per cent.
Both local markets traded more than 95.6 million shares, worth nearly VND1.1 trillion (US$48.7 million).
