Both local markets extended gains this morning as food producers continued to rise. — VNA Photo

HA NOI (Biz Hub) — Vietnamese shares extended gains on both local markets this morning, led by food companies.

The benchmark VN Index on the HCM Stock Exchange rose 0.6 per cent to close at 583.09 points.

The HNX Index on the Ha Noi Stock Exchange added 0.3 per cent to end at 80.49 points.

The markets received strong support from food and beverage companies, led by dairy firm Vinamilk (VNM), food producer Masan Group (MSN) and Thanh Thanh Cong Tay Ninh JSC (SBT).

VNM increased by 1.4 per cent, MSN rose 0.7 per cent and SBT advanced 1.6 per cent.

Property developers also helped lift the markets. Vingroup JSC (VIC) was up by 1.9 per cent, extending its gains further.

Tan Tao Investment Industrial JSC (ITA) rose 2.1 per cent after the company announced it had earned higher profit in the first quarter of this year compared to last year's figure.

Other stocks that gained for the same reason as ITA included Ben Tre Pharmaceutical JSC (DBT), TNG Investment and Trading JSC (TNG) and Ngo Quyen Export Seafood Processing JSC (NGC).

These stocks advanced 9.4 per cent, 1 per cent and 5.1 per cent, respectively.

Both local markets traded nearly 84.8 million shares worth VND1.25 trillion (US$55.5 million). — VNS