Energy drives VN markets up

Wednesday, Aug 08, 2018 11:55

An investor at Tân Việt Securities Co. Vietnamese shares bounced back on Thursday morning as energy companies benefited from increases in crude prices. - Photo

Vietnamese shares advanced on Wednesday morning, driven by the energy sector following an increase in crude prices.

The benchmark VN-Index on the HCM Stock Exchange gained 0.64 per cent to close at 962.92 points. It fell 0.36 per cent on Tuesday.

The HNX Index on the Ha Noi Stock Exchange rose 1.21 per cent to end at 106.99 points, expanding from a slight gain of 0.11 per cent made in the previous session.

More than 75.6 million shares were traded on the two local exchanges, worth VND2 trillion (US$89.5 million).

Energy stocks drove the market up on Wednesday morning as confidence in the energy sector was bolstered by the increases of oil prices.

Brent crude rose 1.46 per cent on Tuesday to close at $74.83 a barrel. It was trading at $74.64 a barrel in the morning.

On the Vietnamese stock market, PetroVietnam Gas (GAS) gained 1.9 per cent. Other energy stocks such as PetroVietnam Drilling and Well Services (PVD), PetroVietnam Coating Corp (PVB) and PetroVietnam Mud Drilling (PVC) soared at least 6 per cent each.

Other industries that also performed well included banking-finance, retail, food and beverage, and construction.

The afternoon trading session starts at 1pm. – VNS

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