VN stocks advance higher on oil price gains
VN stocks advance higher on oil price gains
Shares rose further on both local markets on Wednesday morning, driven by energy companies after oil prices posted strong gains.
The benchmark VN Index on the HCM Stock Exchange added 0.56 per cent to close at 773.65 points. It was up 0.4 per cent on Tuesday.
The HNX Index on the Ha Noi Stock Exchange inched up 0.12 per cent to end at 100.54 points, extending gains from Tuesday's increase of 0.05 per cent.
More than 126.3 million shares were traded on both local bourses, worth VND2.3 trillion (US$102.58 million).
The stock market extended its gains as shares of energy companies such as PetroVietnam Gas (GAS) and PetroVietnam Drilling and Well Services recovered following a jump in the oil price.
Brent crude gained 1.3 per cent on Tuesday overnight to finish at $47.52 per barrel. It was trading at $48.21 on Wednesday morning.
GAS jumped 3.7 per cent and PVD edged up 0.7 per cent in the morning.
Investor confidence in local stocks was positive, lifting two-thirds of the 30 largest companies by market capitalisation.
Among the strongest gainers were property developers, pharmaceutical firms and food and beverage producers.
The afternoon session starts at 1pm.
