Banks, energy firms drive market up
Banks, energy firms drive market up
Vietnamese shares advanced on Monday morning, driven by banks and energy companies.
The benchmark VN Index on the HCM Stock Exchange gained 1.27 per cent to close at 929.14 points. It fell total 4.5 per cent last week.
The HNX Index on the Ha Noi Stock Exchange rose 1.52 per cent to end at 102.23 points. It had dropped total 5.15 per cent in the previous week.
More than 80.8 million shares were traded on the two local exchanges, worth VND1.62 trillion (US$72 million).
Banks and energy firms were the major boosts for the stock market on Monday morning with the two industry indices growing 3.3 per cent and 1.4 per cent, respectively, according to data on vietstock.vn.
Twelve of the 13 listed banks made gains. Among gainers were Bank for Investment and Development of Viet Nam (BID), Vietinbank (CTG), MBBank (MBB) and Asia Commercial Bank (ACB).
Energy stocks also performed well as strong growth was recorded in PetroVietnam Gas (GAS), PetroVietnam Technical Services (PVS) and PetroVietnam Drilling and Well Services (PVD).
Other sectors that contributed to the improvement of the stock market included agriculture, food and beverage, retail, securities and seafood processing.
The afternoon trading session starts at 1pm.
