VN Index up after stocks recover hinh anh 1An investor tracks share movements on the Bao Viet Securities Company's trading floor in Ha Noi. Photo: VNA

Vietnamese shares advanced on both bourses on September 16 as blue chips recovered on rising demand at the end of the trading session.

On the Hochiminh Stock Exchange, the VN Index was up 0.2 percent to close at 564.13 points, extending its gains into a second day.

The HNX Index on the Hanoi Stock Exchange rose a fraction with 0.1 percent to finish at 76.69 points, ending its four-day losing streak.

Big stocks rose sharply and helped boost the market. Bao Viet Holdings (BVH) was up 1.1 percent; Ma San Group (MSN) gained 3.4 percent; and Hoang Anh Gia Lai Group (HAG) climbed 4.1 percent.

"The gains came after the US-based investment fund, Market Vector (VNM ETF), adjusted its index late Tuesday, which allowed these shares to increase their density in the fund's portfolio," Bao Viet Securities (BVSC) reported.

The change in VNM ETF's investment portfolio could help increase trading volumes for these shares in the next sessions, BVSC said.

The financial sector remained inactive as banks have been waiting for the US central bank to make a final decision on whether it would raise the interest rate this week.

As a result, the banking sector was down 0.7 percent compared to the previous day. Six of the nine listed banks declined or remained flat, including the Bank for Investment and Development of Vietnam (BID), which fell 6.7 percent.

Three other banks, including Vietcombank (VCB), Sacombank (STB) and Sai Gon-Hanoi Bank (SHB) were up 3 percent, 3.2 percent and 1.5 percent respectively.

In addition, the continuously increasing price of the West Texas Intermediate (WTI) crude oil firm boosted local energy firms. On September 16, WTI crude rose 0.7 percent with 44.91 USD a barrel.

Local energy firms, including Petrovietnam Gas Corp (GAS), Petrovietnam Drilling & Well Services (PVD) and Drilling Mud Corp (PVC) were up. These firms rose 0.7 percent, 0.9 percent and 1 percent respectively.

An Duong Thao Dien Real Estate Trading Investment (HAR) topped market trading activity with more than 3.7 million shares, but lost 1.7 percent in market value.

Market trading was lower than the previous day with a combined 101 million shares traded on the two local markets, worth 1.5 trillion VND (67.2 million USD), a 22.5 percent drop.-VNA