Vietnam stocks rise higher, driven by oil
Shares rose higher on November 22, driven by oil and gas producers and banking-financial companies, while listed firms with positive 10-month earnings also bolstered investor confidence.
Illustrative image (Source: ndh.vn)Hanoi,
(VNA) - Shares rose higher on November 22, driven by oil and gas
producers and banking-financial companies, while listed firms with positive
10-month earnings also bolstered investor confidence.
The benchmark VN Index on the HCM Stock Exchange rose 1.1 percent to close at 681.91 points, rising a total 1.3 percent after two sessions.
The HNX Index on the Hà Nội Stock Exchange added 0.4 percent to end at 81.03 points, up 0.5 percent from last Friday.
Oil and gas producers continued to be the strongest gainers as members of the Organisation of Petroleum Exporting Countries (OPEC) displayed a united stand at a meeting in Vienna to cut their production in order to restore the market’s stability.
Of the local energy stocks, the biggest gainers were PetroVietnam Drilling and Well Services Corp (PVD), PetroVietnam Transportation Corp (PVT) and PetroVietnam Mud Drilling Corp (PVC), advancing 3.4 percent, 3.3 percent and 2.4 percent, respectively.
The financial-banking sector also supported the market’s upward trend, led by Vietcombank (VCB), Asia Commercial Bank (ACB), insurer Bao Viet Holdings (BVH), Bao Viet Securities Corp (BVS), Sai Gon-Hanoi Securities Corp (SHS) and Sai Gon Securities Inc (SSI).
Vietcombank announced on November 21 that it would issue more than 932 million shares to increase its capital at the end of this month, including more than 213 million transferrable shares.
The banking sector has performed well in the last two sessions as investors expected a new Government directive allowing commercial banks to continue issuing short-term foreign currency loans to borrowers, boosting domestic business at year-end.
Firms with positive 10-month earnings also raised investor sentiment. Mobile World Investment Corp (MWG) yesterday jumped 5 percent after releasing a report showing the company’s revenue and post-tax profit increased by 76 percent and 96 percent from last year’s figures.
Market trading liquidity increased from Monday, with more than 150.5 million shares being exchanged, worth nearly 2.62 trillion VND (116.4 million USD).-VNA
The benchmark VN Index on the HCM Stock Exchange rose 1.1 percent to close at 681.91 points, rising a total 1.3 percent after two sessions.
The HNX Index on the Hà Nội Stock Exchange added 0.4 percent to end at 81.03 points, up 0.5 percent from last Friday.
Oil and gas producers continued to be the strongest gainers as members of the Organisation of Petroleum Exporting Countries (OPEC) displayed a united stand at a meeting in Vienna to cut their production in order to restore the market’s stability.
Of the local energy stocks, the biggest gainers were PetroVietnam Drilling and Well Services Corp (PVD), PetroVietnam Transportation Corp (PVT) and PetroVietnam Mud Drilling Corp (PVC), advancing 3.4 percent, 3.3 percent and 2.4 percent, respectively.
The financial-banking sector also supported the market’s upward trend, led by Vietcombank (VCB), Asia Commercial Bank (ACB), insurer Bao Viet Holdings (BVH), Bao Viet Securities Corp (BVS), Sai Gon-Hanoi Securities Corp (SHS) and Sai Gon Securities Inc (SSI).
Vietcombank announced on November 21 that it would issue more than 932 million shares to increase its capital at the end of this month, including more than 213 million transferrable shares.
The banking sector has performed well in the last two sessions as investors expected a new Government directive allowing commercial banks to continue issuing short-term foreign currency loans to borrowers, boosting domestic business at year-end.
Firms with positive 10-month earnings also raised investor sentiment. Mobile World Investment Corp (MWG) yesterday jumped 5 percent after releasing a report showing the company’s revenue and post-tax profit increased by 76 percent and 96 percent from last year’s figures.
Market trading liquidity increased from Monday, with more than 150.5 million shares being exchanged, worth nearly 2.62 trillion VND (116.4 million USD).-VNA
You should also see
Vuong Dinh Hue permitted to cease holding positions, working
The 13th Party Central Committee on April 26 agreed to let Vuong Dinh Hue cease holding the positions of Politburo member, member of the 13th Party Central Committee, and Chairman of the 15th National Assembly (NA) in the 2021 - 2026 tenure.
See more
Business
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pook of both domestic and international investors for socio-economic development.
Business
Vietnam’s rice exports may exceed 2024 target
With positive results recorded so far, Vietnam can exceed its target of 7.6 million tonnes in rice export volume set for 2024, Nguyen Ngoc Nam, Chairman of the Vietnam Food Association, said at a conference in the Mekong Delta city of Can Tho on April 26.
Business
Ample room for Quang Ninh to attract FDI
The northeastern province of Quang Ninh has ample room to attract foreign direct investment (FDI) and realise the goal of attracting 3 billion USD in FDI this year and 10 billion USD in the 2020-2025 period.
Business
Long An, Dong Nai introduce strengths in RoK
The southern province of Long An and Dong Nai introduced their investment climate as well as socio-economic development orientations at an investment promotion conference held in the Republic of Korea (RoK) on April 26.
Business
Vietnam makes initial efforts to approach creative industries: CIEM
Vietnam has made initial efforts to approach creative industries and services, particularly a policy framework related to creative economy development, according to a new report released by the Central Institute for Economic Management (CIEM).
