Vietnamese stocks rose on both local markets on Tuesday morning on bargain hunting for shares of companies that fell in the previous sessions.

The benchmark VN Index on the HCM Stock Exchange inched up 0.2 per cent to close at 720.47 points. The southern market index dropped total 0.4 per cent in the previous two days.

The HNX Index on the Ha Noi Stock Exchange gained 0.7 per cent to end at 89.74 points. The northern market index fell 0.7 per cent on Monday.

More than 170 million shares were traded on both local bourses, worth VND2.85 trillion (US$126.9 million).

Property developers continued to attract high investment from investors due to bright prospects on their performance and promising earnings.

Gainers included Hoang Quan Consulting-Trading-Service Real Estate Corp (HQC), Tan Tao Investment and Industry (ITA), Vingroup (VIC), Novaland (NVL) and Sai Gon Thuong Tin Real Estate (SCR).

Hoang Anh Gia Lai (HAG) and its agriculture arm Hoang Anh Gia Lai Agriculture International (HNG) reversed the significant hits they suffered on Monday following their reported losses for 2016.

HAG jumped 3.5 per cent and HNG surged 5.9 per cent.

Brokerage firms also recorded strong gains, including Sai Gon Securities (SSI), HCM City Securities (HCM) and MB Securities (MBS).

The afternoon session starts at 1pm. — VNS