Property and insurance stocks lift VN Index

Wednesday, May 11, 2016 12:28

Investors at the VPBank Securities Co. Local markets ended mixed this morning. — Photo

HA NOI (Biz Hub) — Vietnamese shares were mixed on the two local exchanges this morning, with property and insurance companies lifting the VN Index.

The benchmark VN Index on the HCM Stock Exchange rose 0.7 per cent to close at 609.25 points, while the HNX Index on the Ha Noi Stock Exchange fell 0.1 per cent to end at 80.16 points.

Property developers and insurance companies helped boost the markets, although brokerage firms prevented markets from gaining further.

Vingroup JSC (VIC), FLC Group (FLC) and Phat Dat Real Estate Development JSC (PDR) lifted the property sector.

VIC gained 1.9 per cent, FLC added 1.6 per cent and PDR edged up 0.7 per cent.

In addition, Bao Viet Holdings (BVH) and BIDV Insurance Corp (BIC) provided good support to the insurance sector. These stocks jumped 3.4 per cent and 3.1 per cent, respectively.

Other blue chips also contributed to the markets' gains, such as dairy firm Vinamilk (VNM), Vietinbank (CTG) and Bank for Investment and Development of Viet Nam (BID).

VNM advanced 1.4 per cent, CTG was up 0.6 per cent and BID increased by 1.1 per cent.

On the other side, leading brokerage businesses, such as Sai Gon Securities Inc (SSI), HCM City Securities Corp (HCM) and VNDirect Securities Corp (VND), weighed on the markets.

Both local exchanges saw more than 133.5 million shares traded worth VND2.72 trillion (US$120.8 million). — VNS

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