Insurance firms, energy companies extend markets' gains

Tuesday, Jun 21, 2016 12:29

Traders work at VPBank Securities Company. Local markets managed to extend gains in the early session. — Photo

HA NOI (Biz Hub) — Vietnamese shares continued to rise in the early session led by insurance companies and energy firms.

The benchmark VN Index on the HCM Stock Exchange advanced 0.7 per cent to close at 630.74 points.

The HNX Index on the Ha Noi Stock Exchange struggled to inch up 0.1 per cent, ending at 84.46 points.

The insurance sector was lifted by Bao Viet Holdings (BVH), Bao Minh Insurance Corp (BMI), PVI Holdings (PVI) and Vietnam National Reinsurance Corp (VNR).

BVH rose 1.7 per cent while shares of the other companies were up between 0.8 per cent and 1.1 per cent.

In addition, PetroVietnam Drilling and Well Service Corp (PVD) and PetroVietnam Technical Service Corp (PVS) lifted the energy industry. PVD added 2.2 per cent and PVS edged up 0.5 per cent.

Investor confidence was boosted in the early session on expectations that Britain will stay in the European Union.

Higher investor confidence bolstered gains in blue chips, such as dairy firm Vinamilk (VNM), property and retail company Vingroup JSC (VIC), Vietcombank (VCB) and Vietinbank (CTG), as well as Vicostone JSC (VCS) and Tien Phong Plastic JSC (NTP).

Both local markets saw more than 97 million shares being traded worth VND1.9 trillion (US$85 million). — VNS

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