The benchmark VN Index on the HCM Stock Exchange gained one per cent to close at 552.34 points, and the HNX Index on the Ha Noi Stock Exchange added 0.8 per cent to end at 78.06 points. — VNS Photo Gia Vi

HA NOI (Bizhub) — Vietnamese shares rose on both local markets this morning, led by energy stocks, following the rebound by global oil prices.

The benchmark VN Index on the HCM Stock Exchange gained one per cent to close at 552.34 points, and the HNX Index on the Ha Noi Stock Exchange added 0.8 per cent to end at 78.06 points.

Global crude prices advanced yesterday after Iran backed the proposal made by Russia and Saudi Arabia on a production freeze in an attempt to boost prices.

London-traded Brent crude surged 6.5 per cent to close trading at US$34.28 a barrel.

The energy sector index increased by 2.2 per cent, led by PetroVietnam Gas Corporation (GAS) that jumped 4.6 per cent, and PetroVietnam Drilling and Well Services Corporation (PVD) that surged four per cent.

Financial firms also helped to boost the market after the American central bank considered changing its rate hike schedule amid concerns over global financial markets and American economic growth.

Among financial companies, Vietcombank (VCB) added 1.5 per cent, the Bank for Investment and Development of Vietnam (BID) rose 1.3 per cent, and insurance firm PVI Holdings (PVI) gained 2.8 per cent.

Both local exchanges traded more than 74 million shares, worth VND1.2 trillion ($53 million). – VNS