Shares rise on energy, banks
Shares rose on both local markets on June 13, boosted by the energy sector and a recovery of large-cap stocks.
An investor watching stocks move (Photo: VNA)Hanoi (VNA) - Shares rose on both local markets on June 13, boosted by the energy sector and a recovery of large-cap stocks.
The benchmark VN-Index on the HCM Stock Exchange was up 0.77 percent to end at 756.89 points. Vietnam’s key stock index has risen nearly 1 percent in total after the last two sessions.
The HNX-Index on the Hanoi Stock Exchange advanced 0.49 percent to finish at 97.31 points. The northern market index recovered from a June 12 loss of 0.5 percent.
More than 275 million shares were traded on both local bourses, worth nearly 5.4 trillion VND (239.8 million USD).
The energy sector recorded the strongest growth among 20 industries in the stock market with support from a flat increase of oil prices during the last three days.
Brent crude inched up 0.3 percent to trade at 48.42 USD a barrel, totaling a three-day rally of 1.2 percent.
The three-day rally of oil prices helped local energy stocks post good gains on Tuesday.
Among shares of companies that operate in the energy and related service industries, PetroVietnam Gas (GAS) rose 1.8 percent, PetroVietnam Coating (PVB) increased by 2.8 percent and PetroVietnam Mud Drilling (PVC) surged 6.9 percent.
Recovery of some large-cap stocks was another factor that contributed to market gains. Shares of FLC Faros Construction (ROS) extended rapid gains for a second day, hitting the daily trading limit of 6.9 percent. ROS has jumped nearly 14 percent in two days.
Financial-banking stocks also recovered from their decline on June 12. Eight of the nine bank stocks advanced, with BIDV (BID), Asia Commercial Bank (ACB), Vietinbank (CTG) and Saigon-Hanoi Bank (SHB) posting gains of more than 1 percent.
Among brokerages, Saigon-Hanoi Securities (SHS), HCM City Securities (HCM), VNDirect Securities (VND) and Saigon Securities Inc (SSI) were among the biggest gainers.
The VN-Index reached its fresh nine-year high as shares of banks, brokerages and energy firms had an impressive session, Saigon-Hanoi Securities (SHS) said in its daily report.
However, market trading liquidity rose only slightly in comparison to the June 12 figures and remained below the average number of the last 20 sessions, proving that investors were still cautious, SHS added.
Investor confidence has remained low ahead of the US central bank’s two-day meeting on June 14, which could indicate the number of rate hikes expected in 2017.-VNA
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