Shares advanced on both local markets on Tuesday morning, driven by large-cap stocks, on positive investor confidence.

The benchmark VN Index on the HCM Stock Exchange added 0.48 per cent to close at 792.48 points. It finished the last trading week up 2.2 per cent from the week ago.

The HNX Index on the Ha Noi Stock Exchange gained 0.32 per cent to end at 104.14 points. It rose 1.1 per cent on a weekly basis last week.

Nearly 104 million shares were traded on both local exchanges, worth VND2.04 trillion (US$90.8 million).

Large-cap stocks performed well with 18 of the 30 largest company shares by market capitalisation on the VN30 Index advancing.

The 18 increasing large-cap stocks made gains of between 0.1 per cent and three per cent each, including food producer Kido Group (KDC), energy firms PetroVietnam Gas (GAS) and PetroVietnam Drilling and Well Services (PVD), and Vietcombank (VCB).

According to analysts and brokerage firms, Vietnamese stocks will continue rising in September as investors remain upbeat on positive macro-economic factors, such as increased lending among commercial banks and upward trend of major economic indicators.

The afternoon session starts at 1pm. – VNS