Strong demand helps shares gain
Strong demand helps shares gain
Strong purchasing demand at the end of Tuesday morning’s session helped shares recover after fluctuations caused by adjustment pressures weighed on large caps.
The VN-Index on the Ho Chi Minh Stock Exchange increased 0.59 per cent to 999.84 points.
On the Ha Noi Stock Exchange, the HNX-Index edged up 0.38 per cent to 108.94 points.
A total of 217.2 million shares worth a combined VND3.7 trillion (US$159 million) changed hands on the two markets.
Banking stocks played a leading role in the market on Tuesday morning. The Bank for Investment and Development (BID) soared by 5.1 per cent to trade at VND35,300 per share. Vietinbank (CTG) increased 1.9 per cent to close at VND21,600 per share. Vietcombank (VCB) climbed by 1.4 per cent to trade at VND63,700 per share.
Oil and gas stocks maintained their positive momentum such as PetroVietnam Gas JSC (GAS), PetroVietnam Drilling and Wells Service (PVD), PetroViet Nam Coating JSC (PVB), gaining between 1.4 per cent to 4.9 per cent.
Oil prices climbed on Monday following supply cuts by OPEC and as the United States and China were reported to be close to signing a trade deal.
International Brent futures were up 0.9 per cent to trade at around $65.67 a barrel, while the US West Texas Intermediate (WTI) crude also increased 1.4 per cent to $56.59 per barrel.
Afternoon trading starts at 1pm.
