Stocks advance on oil deal hinh anh 1Investors at Bao Viet Securities Company.​ (Source: VNA)

Hanoi (VNA) - Shares rose on both local markets on December 1 following a deal between OPEC and non-OPEC exporters on extended oil output cuts and expectations for good fourth-quarter earnings reports.

The benchmark VN Index gained 1.09 percent to close at 960.33 points, rebounding from a fall of 0.23 percent on the previous day.

The VN Index has increased by total 2.6 percent this week and nearly 14.7 percent in the last one month.

The HNX Index on the Hanoi Stock Exchange added 0.67 percent to end the day at 115.49 points, totaling a three-day rise of 3.6 percent.

The northern market index gained 4.2 percent on a weekly basis and has advanced 9.8 percent since the end of October.

More than 301.3 million shares were traded on local bourses on December 1, worth 6.27 trillion VND (roughly 278.9 million USD).

Gaining stocks outnumbered losers by 270 to 167, while151 others were unchanged.

Energy, brokerage, and food and beverage stocks were major lifts for the stock market on the day as the first two sector’s indices posted a growth rate of 1.6 percent each while the latter jumped nearly 4 percent.

Energy shares, along with brokerage and food and beverage stocks, were also the centre of attention on December 1 as investors placed high expectations for those companies to release good fourth quarter earnings reports, according to VPBank Securities Company (VPBS).

VPBS said in a note that investors would seek opportunities in safe assets and offer stable growth at the moment with high prospects for good earnings during the end of 2017 and early 2018 such as brokerages, food and beverages, and energy.– VNA