Property and energy stocks lift markets again

Friday, Jul 01, 2016 13:26


An investor looks at the stock screen. Investors exchange nearly 90 million shares on both local bourses, worth US$81.3 million, this morning. — File Photo

HA NOI (Biz Hub) — Vietnamese shares advanced in the early session, led by real estate firms.

The benchmark VN Index on the HCM Stock Exchange rose 0.9 per cent to close at 637.74 points.

Also, the HNX Index on the Ha Noi Stock Exchange inched up 0.1 per cent to end at 84.82 points.

Additionally, listed real estate firms continued to drive markets up, as investors expected positive business earnings for their second-quarter performances.

Among those companies, Vingroup JSC (VIC) gained 2.2 per cent, Kinh Bac City Development Share Holding Corp (KBC) added 1.3 per cent, and Song Da Urban Investment Construction and Development JSC (SDU) edged up 0.8 per cent.

Other sectors that also helped raise local markets included energy and insurance stocks.

The insurance sector was lifted by Bao Minh Insurance Corp (BMI) and Viet Nam National Reinsurance Corp (VNR), which jumped 5.5 per cent and 7.1 per cent, respectively.

Of note, energy stocks benefited from a rebound in US crude West Texas Intermediate (WTI), which rose 0.6 per cent to trade at US$48.63 a barrel.

Gaining energy stocks included PetroVietnam Gas Corp (GAS), PetroVietnam Technical Service Corp (PVS) and PetroVietnam Transportation Corp (PVT).

Investors exchanged nearly 90 million shares on both local bourses, worth VND1.83 trillion ($81.3 million). — VNS

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