Oil prices help Vietnam’s stocks rebound
Vietnamese shares advanced on June 7 as oil prices rose for a second day, boosting energy stocks.
Investors work on the Sai Gon Securities Inc’s trading floor. (Photo: VNA)Hanoi (VNA) - Vietnamese shares advanced on June 7 as oil prices rose for a second day, boosting energy stocks.
The benchmark VN Index on the HCM Stock Exchange rebounded 0.7 percent to finish at 624.65 points, erasing a loss of 0.5 percent made in the previous two sessions.
The HNX Index on the Hanoi Stock Exchange bounced back 0.7 percent from a small backward step on the previous day to close at 83.19 points.
The increasing oil prices helped energy stocks make good gains, including PetroVietnam Gas Corp (GAS), PetroVietnam Drilling and Well Service Corp (PVD), PetroVietnam Technical Services Corp (PVS) and PetroVietnam Coating Corp (PVB), whose gains ranged between 1.7 percent and 2.7 percent.
In the property sector, Vingroup JSC (VIC), Kinh Bac City Development Share Holding Corp (KBC), FLC Group (FLC) and Sai Gon Thuong Tin Real Estate JSC (SCR) were among the strongest gainers.
Steel producers such as Hoa Phat Group (HPG), Hoa Sen Group (HSG) and Vietnam-Italy Steel JSC (VIS) advanced between 1 percent and 2.5 percent.
A stronger Vietnamese dong made local stocks attractive to foreign investors. Foreign investors recorded a net buying value of 104.2 billion VND (4.63 million USD) in both local exchanges on June 7.
Both local exchanges traded 117.3 million shares worth 2.55 trillion VND, a decrease of 10 percent from the June 6 trading value.-VNA
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