Oil prices lift markets
Oil prices lift markets
Vietnamese shares extended gains on both local markets this morning as oil prices rebounded sharply during the last two days.
The benchmark VN Index on the HCM Stock Exchange struggled to move up 0.2 per cent to close at 615.16 points and the HNX Index on the Ha Noi Stock Exchange added 0.8 per cent to end at 81.02 points.
The energy sector helped boost investor sentiment after global crude prices bounced back strongly.
US crude West Texas Intermediate (WTI) on Wednesday jumped 3.5 per cent to close at US$46.23 per barrel, extending a two-day increase of 6.4 per cent.
Energy stocks made good gains. PetroVietnam Gas Corp (GAS) earned 1.9 per cent and PetroVietnam Drilling and Well Service Corp (PVD) rose 2.9 per cent.
PetroVietnam Coating Corp (PVB) and PetroVietnam Technical Service Corp (PVS) also edged up 0.5 per cent and 0.6 per cent, respectively.
Financial firms also lifted the markets.
Among the banks, Asia Commercial Bank (ACB) advanced 3.9 per cent and Sai Gon-Ha Noi Bank (SHB) increased by 1.6 per cent.
Brokerage companies such as Sai Gon-Ha Noi Securities Corp (SHS), HCM City Securities Corp (HCM) and BIDV Securities Inc (BSI) also saw their stock values rise this morning.
Both local markets exchanged more than 75.6 million shares worth VND1.18 trillion ($52.7 million).
