VN shares up on energy, volatility still strong

Thursday, May 10, 2018 12:45

Vietnamese shares advanced slightly on Thursday morning as energy sector was lifted by increases of oil prices while market volatility continued to weigh down investors' confidence. - Photo

Vietnamese shares remained volatile on Thursday morning despite a strong boost from the energy and insurance-finance sectors.

The benchmark VN Index on HCM Stock Exchange inched up 0.08 per cent to close at 1,057.85 points. It had fallen by 0.5 per cent in the previous two sessions.

The HNX Index on Ha Noi Stock Exchange gained 0.33 per cent to end at 124.26 points, recovering from a two-day decline of 2.1 per cent.

Nearly 135 million shares, worth VND3.45 trillion (US$153.7 million), were traded on the two local exchanges while the market breadth was negative, with 223 declining stocks against 171 gaining stocks.

Energy and insurance-finance sectors were the main support to the local stock markets on Thursday morning. The two sector’s indices were up by 2.7 per cent and 1.5 per cent, respectively.

The energy industry was boosted by a positive trading of crude. Brent crude increased by 0.7 per cent to trade at $77.76 per barrel, after the United States withdrew from its nuclear agreement with Iran and threatened to impose trade sanctions on the Middle East oil exporter.

Local large-cap energy stocks advanced between 3.2 per cent and 4.9 per cent following the news.

Among insurance companies, PVI Holdings (PVI) moved up by 3 per cent and Bao Viet Holdings (BVH) gained 1.6 per cent.

The afternoon trading session starts at 1pm. – VNS

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