Shares advance on global oil price rise

Friday, Oct 14, 2016 12:39

An investor look at the screen to follow the local stock exchange. — VNS Photo

HA NOI (Biz Hub) — Shares advanced this morning in the two markets, led by energy stocks, which were driven by the rise in global oil prices.

The benchmark VN-Index on the HCM Stock Exchange was up 0.6 per cent to close morning trade at 689.6 points.

On the Ha Noi Stock Exchange, the HNX-Index inched up 0.1 per cent to end at 85.5 points.

A total of 111 million shares worth a combined VND2 trillion (nearly US$90 million) were traded in the two markets.

Increase in global oil prices lifted energy stocks, US WTI crude was up 0.4 per cent per barrel and Brent crude increased 0.5 per cent per barrel. Most of the large oil and gas stocks gained value this morning, including PV Gas (GAS), PetroVietnam Drilling and Wells Service (PVD), PetroVietnam Technical Services (PVD) and PetroVietnam Drilling Mud (PVC).

Other large-cap stocks also moved up, such as Vinamil (VNM), Saigon Securities Inc (SSI), real estate developer Sacomreal (SCR) and Vinaconex (VCG).

Afternoon trade starts at 1pm. — VNS

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