Stocks rise again as global oil markets recover
Stocks rise again as global oil markets recover
Shares rebounded this morning, after declining for four sessions, along with recovery in global oil markets.
On the HCM Stock Exchange, the VN-Index recouped 1.2 per cent to close at 639.1 points.
On the Ha Noi Stock Exchange, the HNX-Index rose 0.7 per cent to end at 81.3 points.
Oil and gas stocks were among the largest gainers this morning, as most stocks in this group gained value. PV Gas (GAS), PetroVietnam Drilling and Wells Service (PVD), PetroVietnam Drilling Mud (PVC) and Petroleum Equipment Assembly and Metal Structure (PXS) increased between 1.6 and four per cent.
WTI Oil prices rose more than three per cent overnight to reach above US$40 per barrel again, after data showed that American fuel supplies last week fell more sharply than expected.
Many other large-cap stocks also recovered this morning after some sessions of decline, such as dairy firm Vinamilk (VNM), insurance firm Bao Viet Holdings (BVH), Vietcombank (VCB) and Vietinbank (CTG).
Liquidity remained low, with just 74 million shares worth a combined VND1.2 trillion ($54 million) being traded on the two markets by the end of this morning. Only 18 of 689 stocks saw trading of more than one million shares.
The afternoon session resumes at 1pm.
