VN stocks advance on banks and energy firms

Monday, Jan 08, 2018 12:44

Vietnamese shares rose on Monday morning as banks and energy firms were boosted by expectations for good earnings reports. - Photo

Vietnamese shares advanced on Monday morning, thanks to the efforts of banks and energy firms.

The benchmark VN Index on the HCM Stock Exchange edged up 0.33 per cent to close at 1,016.04 points after having scored a total growth of 2.9 per cent last week.

The minor HNX Index on the Ha Noi Stock Exchange gained 0.90 per cent to end at 119.98 points. It increased by 1.8 per cent last week.

More than 183.4 million shares were traded on the two local exchanges, worth VND4.23 trillion (US$188.3 million).

The market trading condition was quite balanced, with 205 advancing stocks against 197 decliners.

Bank and energy stocks continued to drive the market upwards on Monday morning, boosted by expectations for good 2017[AC1] earnings results.

The banking sector index rose 2 per cent, while that of the energy sector added 0.8 per cent, data on shows.

Gainers among the 11 listed banks included Eximbank (EIB), Bank for Investment and Development of Viet Nam (BID), MBBank (MBB), Sacombank (STB) and Asia Commercial Bank (ACB).

Meanwhile, PetroVietnam Gas (GAS), PetroVietnam Technical Services (PVS) and PetroVietnam Coating (PVB) were the ones that pushed the energy industry up.

The afternoon trade session starts at 1pm. – VNS

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