Investors at the SSI stock trading floor. Viet Nam's stock market yesterday rose to end a two-day losing streak. — VNS Photo Viet Thanh
Shares were up on Friday morning thanks to strong support from blue chips in the banking and mining sectors.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange edged up 0.36 per cent to 900.39 points.
On the Ha Noi Stock Exchange, the HNX-Index gained 1.58 per cent to end at 102.62 points.
Over 111.3 million shares worth a combined VNĐ2 trillion (US$87 million) were traded on the two bourses.
Bank stocks soared during the morning session, with Bank for Investment and Development of Việt Nam (BIDV), Military Bank (MBB), Techcombank (TCB) and VPBank (VPB) gaining from 3.2 to 5 per cent.
Oil and gas stocks also recovered this morning.
The two biggest oil and gas firms, PV Gas (GAS) and Petrolimex (PLX), advanced 3.2 per cent and 2 per cent, respectively.
Other firms including PetroVietnam Drilling and Wells Service (PVD), PetroVietnam Technical Service (PVS) and PetroVietnam Drilling Mud (PVC) increased between 1.6 per cent and 3.8 per cent.
Vietnam Construction And Import-Export Joint Stock Corporation (VCG) shot up thanks to news that the State Capital Management Corporation (SCIC) and Viettel Group are about to auction their stakes in VCG, pushing the price up 5.8 per cent to VNĐ18,200.
However, the market’s upward movement was restrained by declines of several major stocks including Vinamilk (VNM) and Vincom Retail (VRE).
The afternoon session starts at 1pm. – VNS