Vietnamese shares advanced on both local markets on the back of property developers and insurance-finance firms.

The benchmark VN Index inched up 0.09 per cent to close at 954.33 points. It gained 0.22 per cent on Wednesday.

The HNX Index on the Ha Noi Stock Exchange rose 0.32 per cent to end at 114.31 points. The northern market index increased by 0.52 per cent in the previous session.

More than 133 million shares were traded on the two local exchanges, worth VND3.36 trillion (US$149.4 million).

Large-cap stocks were mixed as 14 of the 30 largest companies by market capitalisation advanced against 10 others that ended flat.

Insurance-finance and real estate sectors were among those that lifted both local exchanges on Thursday morning.

Leading companies in the two sectors such as Bao Viet Holdings (BVH), Bao Minh Insurance Corp (BMI), Vietnam National Reinsurance Corp (VNR) and Vincom Retail (VRE), as well as Vingroup (VIC) and Vinaconex Investment and Tourism Development JSC (VCR), saw their share values increase.

Other industries that made good gains and contributed to the market’s growth were construction firms, building material producers and IT companies.

Energy shares such as PetroVietnam Drilling and Well Services (PVD), PetroVietnam Mud Drilling (PVC) and PetroVietnam Coating JSC (PVB), however, fell on profit-taking.

The afternoon session starts at 1pm. – VNS