Oil price increases boost VN stocks in early trading

Tuesday, Apr 02, 2019 12:48

PetroVietnam Gas Corporation’s liquefied petroleum gas tanks at Thị Vải Refrigerated LPG Storage in the central province of Bà Rịa-Vũng Tàu. The company’s shares advanced 1 per cent on Tuesday morning, boosted by higher oil prices. — Photo pvgas.com.vn

Vietnamese shares gained ground on Tuesday morning, driven by petroleum firms.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange was up 0.34 per cent, closing at 991.94 points.

The southern market index rose 0.79 per cent on Monday.

On the Ha Noi Stock Exchange, the HNX-Index inched up 0.09 per cent to end at 107.82 points.

The northern market index increased by 0.27 per cent on the first trading day of the week.

Nearly 120.7 million shares, worth VND2.35 trillion (US$101 million), were traded on the southern bourse.

Petroleum stocks traded in the positive territory, boosted by the increase of oil prices on Monday’s overnight trading.

Brent crude was up 0.9 per cent to end Monday at $69 a barrel, the highest level since November 12, 2018.

Brent crude inched up 0.1 per cent on Tuesday morning’s trading.

On the Vietnamese stock market, PetroVietnam Gas (GAS) advanced 1 per cent, while PetroVietnam Drilling and Well Services (PVD) added 1.4 per cent.

The petroleum sector index was up 0.8 per cent, according to data on vietstock.vn.

Other industry indices that also advanced included real estate (0.53 per cent), information and technology (1 per cent), rubber (1.5 per cent), and retail (0.8 per cent).

The afternoon trading session starts at 1pm. — VNS

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