Stock traders at MayBank Kim Eng Securities Company in HCM City. (Photo: VNA) Hanoi (VNA) - Vietnamese stock indices ended on a positive note on June 14, led by banks, insurance companies and agriculture firms on positive market information.
The benchmark VN Index on the HCM Stock Exchange added 0.51 percent to close at 760.77 point. Vietnam’s key stock index has rallied a total 1.5 percent over the last three sessions.
On the Hanoi Stock Exchange, the HNX Index rose 0.59 percent to end at 97.89 points, extending gains for a second day with total growth of 1.1 percent.
More than 259.6 million shares worth 4.93 trillion VND (219 million USD) were traded on both local bourses, a decrease of 5.6 percent in volume and 8.6 percent in value compared to June 13.
Large-cap stocks also performed well with nearly two-thirds of the 30 largest companies by market capitalisation and liquidity gaining.
The banking, insurance and agriculture sectors posted the biggest gains with their sector indices growing 1.8 percent, 2 percent and 4.1 percent, respectively.
The banking sector index was pulled up by eight of the nine listed banks. Shares of BIDV (BID), Vietinbank (CTG), MBBank (MBB) and Vietcombank (VCB) were among the strongest gainers, rising between 1.7 percent and 2.6 percent.
The growth of bank stocks may be a result of investor confidence on speculations that a new policy to help local lenders resolve bad-debt will be approved by the National Assembly, tinnhanhchungkhoan.vn reported.
The agriculture segment was kept positive by Hoang Anh Gia Lai Co (HAG) and Hoang Anh Gia Lai Agricultural Investment (HNG), which hit the daily trading limit of 6.9 percent.
HAGL Agrico has announced it will organise its annual shareholder meeting on June 30.
In 2017, HAGL targets total revenue of 4.5 trillion VND on expectations that commodity prices, especially rubber prices, will rise.
Rubber prices on the Tokyo Commodity Exchange rose 1 percent to trade at 197.4 yen per kilogramme on expectations that the three biggest rubber exporters at a meeting this weekend will come up with a decision to limit their production to keep price up, Bao Viet Securities (BVSC) reported.
Natural rubber producers such as HAGL Agrico could help the stock market advance further in the next sessions on a rising rubber price and expected good second-quarter performance of those companies, BVSC added.-VNA
VNA
