Energy stocks lift market
Energy stocks lift market
Shares rose for a second day on the two national stock exchanges, driven by energy stocks on the back of recovery in global oil prices.
On the HCM Stock Exchange, the VN-Index was up 0.4 per cent to close morning trade at 690.1 points. The benchmark index climbed 0.6 per cent in the last two sessions.
On the Ha Noi Stock Exchange, the HNX-Index also increased 0.4 per cent to end at 85.9 points. It gained 0.9 per cent in the last two trading sessions.
Global oil prices saw impressive increases yesterday, lifting local energy shares.
US West Texas Intermediate (WTI) crude oil increased 2.34 per cent on the New York Mercantile Exchange yesterday to US$49.83 per barrel, the highest since the end of June, while Brent crude increased 1.95 per cent to $51.86 per barrel.
Except PV Gas (GAS), which inched down 0.1 per cent, most oil and gas stocks gained value, including PetroVietnam Drilling and Wells Service (PVD), Petroleum Equipment Assembly & Metal Structure (PXS), PetroVietnam Drilling Mud (PVC) and PetroVietnam Technical Services (PVS), all rising between 0.4 per cent and 1.9 per cent.
Several blue chips also increased, such as Vinamilk (VNM), Vietcombank (VCB), Vietinbank (CTG), Bao Viet Holdings (BVH) and Kinh Bac City Development (KBC).
Overall market condition was negative with 197 stocks rising, 161 falling and 333 closing unchanged.
Over 115 million shares worth VND1.7 trillion ($76.2 million) were traded on the two markets in morning trade.
Afternoon trade begins at 1pm.
