Vietnamese shares continued their upward trend on Wednesday morning thanks to the strong support of oil stocks.

The benchmark VN-Index on the HCM Stock Exchange inched up 0.67 per cent to close at 991.65 points after gaining 1.52 per cent to close at 985.06 points on Tuesday.

The HNX Index on the Ha Noi Stock Exchange was up 0.56 per cent to end at 111.31 points after increasing 0.66 per cent to end at 111.43 points on Tuesday.

More than 130.2 million shares were traded on the two local exchanges, worth VND2.5 trillion (US109 million).

The large-cap VN30 Index gained 0.60 per cent to stand at 964.64 points.

Oil stocks drove the market up, with gainers including PetroVietnam Gas JSC (GAS), PetroVietnam Technical Services Corporation (PVS) and PetroVietnam Drilling & Well Services Corporation (PVD).

Among the other gainers were real estate developers Vingroup (VIC) and Vinhomes (VHM), Masan Group (MSN), VPBank (VPB), dairy firm Vinamilk (VNM) and Vietcombank (VCB).

On a sector basis, real estate and mining were the main driving factors for the stock market on Wednesday morning.

The two industry indices were up 1.1 per cent and 2.9 per cent, respectively.

Other sectors that also performed well included retail and food and beverages.

The afternoon trading session starts at 1pm. – VNS