Energy shares lift VN Index again
Energy shares lift VN Index again
The benchmark VN Index on the HCM Stock Exchange extended gains this morning, driven again by the energy sector on expectations of an oil output curb deal.
It rose 0.4 per cent to close at 679.30 points, boosted by a positive performance of blue chips with two-thirds of the 30 largest companies making gains.
The oil and gas producers on the southern bourse made slight gains following the uptrend in global crude prices, after some of the OPEC's members agreed to cut 4 per cent of their production.
US crude West Texas Intermediate was up 4 cents to trade at US$49.76 a barrel and Brent Crude traded at $50.54 a barrel, up 7 cents from Thursday.
Of the energy firms, PetroVietnam Gas Corp (GAS) inched up 0.3 per cent, PetroVietnam Drilling and Well Services Corp (PVD) went up 0.8 per cent and PetroVietnam Transportation Corp (PVT) rose 0.4 per cent.
Other large-cap stocks also bounced back after a series of gloomy trading days, including dairy producer Vinamilk (VNM), Bank for Investment and Development of Viet Nam (BID), Vietinbank (CTG) and property firm Vingroup JSC (VIC).
The HNX Index was volatile on the Hà Nội Stock Exchange, ending slightly lower at 82.65 points, dragged down by Tien Phong Plastic JSC (NTP), Sai Gon-Ha Noi Bank (SHB) and Vicostone JSC (VCS).
Market trading liquidity remained low, with nearly 70 million shares worth VND1.06 trillion ($47.2 million) being traded.
