Strong domestic buying lifts blue chips
Strong domestic buying lifts blue chips
Shares gained in the morning session, driven by blue chips, on strong buying from domestic investors.
The benchmark VN Index on the HCM Stock Exchange rose 0.6 per cent to close at 655.32 points and the HNX Index on the Ha Noi Stock Exchange edged up 0.4 per cent to end at 82.70 points.
The stock market opened the week with positive news about the macroeconomics, boosting purchases from local investors, given the increase of foreign selling last week amid fears of a US interest rate hike.
Consumer goods producer Masan Group (MSN), financial stocks Vietcombank (VCB), Vietinbank (CTG) and insurer Bao Viet Holdings (BVH) lifted the market.
MSN jumped 4.6 per cent, VCB advanced 3.3 per cent, CTG inched up 0.3 per cent and BVH added 3.2 per cent.
Energy stocks were positive as crude prices recovered slightly from last week's losing streak.
London-traded Brent crude was being traded at US$46.53 per barrel, up 1.7 per cent from Friday's closing price.
PetroVietnam Drilling and Well Services Corp (PVD), PetroVietnam Coating Corp (PVB) and PetroVietnam Technical Services Corp (PVS) gained between 0.5 per cent and 2.1 per cent, lifting the oil sector.
Both local exchanges saw more than 74 million shares being traded, worth VND1.5 trillion ($67 million).
Property developer FLC Group (FLC) was the most active stock with more than four million shares traded. FLC increased by 2.9 per cent this morning.
