Financial stocks extend markets' gains

Wednesday, Jun 29, 2016 12:29

Local markets extended gains this morning as financial firms and energy stocks rebounded from recent falls. — Photo

HA NOI (Biz Hub) — Vietnamese shares extended gains in the early session, led by financial companies.

The benchmark VN Index on the HCM Stock Exchange rose 1.1 per cent to close at 628.90 points.

The HNX Index on the Ha Noi Stock Exchange increased by 0.5 per cent to end at 84.29 points.

Listed financial service providers, including banks, insurance firms and brokerage companies, made good gains and lifted markets.

Among banks and insurance companies, Vietcombank (VCB), Vietinbank (CTG) and Bao Minh Insurance Corp (BMI) were the biggest gainers.

VCB added 1.5 per cent, CTG advanced 2.4 per cent and BMI gained 2.5 per cent.

Brokerage companies bounced back from the recent declines, including Sai Gon Securities Inc (SSI), HCM City Securities Corp (HCM), VNDirect Securities Corp (VND) and FIT Investment JSC (FIT).

Energy stocks also returned to positive territory as oil prices jumped 3 per cent on Tuesday.

PetroVietnam Gas Corp (GAS), PetroVietnam Drilling and Well Service Corp (PVD) and PetroVietnam Technical Service Corp (PVS) rose between 1.6 per cent and 1.7 per cent each.

Investor sentiment got better after US markets showed improvements on Tuesday as global traders purchased cheap stocks that had declined after the Brexit poll.

Investors on the local markets traded more than 93 million shares worth VND1.8 trillion (US$80 million). — VNS

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