Finance-banking sector lifts local markets
Finance-banking sector lifts local markets
Shares advanced marginally on Thursday morning in both local markets, driven by financial-banking stocks.
The benchmark VN Index on the HCM Stock Exchange index inched up 0.1 per cent to close at 717.51 points. It has gained 1.3 per cent over the past four days.
The HNX Index on the Ha Noi Stock Exchange edged up 0.3 per cent to end at 87.78 points, after a two-day rise of 1.1 per cent.
Market trading liquidity was moderate with more than 127 million shares worth VND2.31 trillion (US$102.9 million) being traded.
The VN30 Index, which tracks the performance of the 30 largest listed companies by market capitalisation, went up 0.6 per cent, while the VNSML Index inched down 0.1 per cent, showing signs that investors were switching from small- and medium-cap stocks to blue chips.
Financial-banking stocks were the main factor that lifted the two local exchanges. Among the nine listed banks, Vietcombank (VCB), Asia Commercial Bank (ACB), Bank for Investment and Development of Viet Nam (BID), Vietinbank (CTG) and MBBank (MBB) gained.
Brokerage firms also performed well. HCM City Securities Corp (HCM) and Sai Gon Securities Inc (SSI) led the sector’s growth, rising by 2.4 per cent and 2.6 per cent, respectively. The two leading brokers were followed by Sai Gon-Ha Noi Securities Corp (SHS) and VNDirect Securities Corp (VND).
In the insurance-finance industry, Viet Nam National Reinsurance Corp (VNR) and Bao Viet Holdings (BVH) gained, giving the sector a leg up.
