Property stocks push markets up

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Shares rose on the two local exchanges on Monday morning, driven by property stocks.

Vietnamese shares advanced on the two local exchanges in early trading session, driven by property stocks. — Photo tinnhanhchungkhoan.vn

Shares rose on the two local exchanges on Monday morning, driven by property stocks.

The benchmark VN Index on the HCM Stock Exchange gained 0.7 per cent to close at 717.25 points. It had advanced 0.7 per cent on Friday.

The HNX Index on the Ha Noi Stock Exchange inched up 0.2 per cent to end at 86.82 points, extending gains for the second day.

The property sector pushed the markets up in the morning session after shares of three real estate companies - Faros Construction Corp (ROS), Hoa Binh Construction & Real Estate Corp (HBC) and Dat Xanh Real Estate Service & Construction Corp (DXG) - were added to the FTSE Vietnam Index in the first quarter review of 2017.

ROS surged 6.8 per cent and DXG jumped 6.6 per cent, but HBC gained only 0.4 per cent because of strong foreign selling.

Listed banks also performed well, and the key gainers were Sai Gon-Ha Noi Bank (SHB), Sacombank (STB), Military Bank (MBB) and Vietinbank (CTG).

Around 121.5 million shares worth VND2.13 trillion ($94.86 million) were traded on the two bourses. — VNS

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