Bank stocks drive markets up
Bank stocks drive markets up
Driven by bank stocks, shares on the two local exchanges rose slightly on Tuesday morning.
The benchmark VN Index on the HCM Stock Exchange ended almost flat at 715.37 points. The southern market index gained 0.6 per cent on Monday.
The HNX Index on the Hà Nội Stock Exchange added 0.5 per cent to end at 89.46 points. The northern market index had increased by total 2.3 per cent in the previous five sessions.
More than 153.7 million shares were traded on the two local bourses, worth VND2.79 trillion (US$123.9 million).
Bank stocks continued to perform well on Tuesday morning on high expectations of positive first-quarter earnings reports to be released.
Seven of the nine listed banks advanced. Vietcombank (VCB) rose 0.4 per cent while others such as Asia Commercial Bank (ACB) and Eximbank (EIB) increased by 2.1 per cent and 3.5 per cent, respectively.
The stock market was also supported by other large-cap companies, including property firm FLC Group (FLC), Faros Construction Corp (ROS), dairy producer Vinamilk (VNM) and consumer goods producer Masan Group (MSN).
VNM and ROS edged up 0.6 per cent each, and MSN and FLC jumped 3.7 per cent and 4 per cent, respectively.
On the opposite side, southern brewer Sabeco (SAB), property developer Vingroup (VIC) and PetroVietnam Gas Corp (GAS) were weighing down the market.
