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Banks and insurers prop up the market
Shares extended their rallies this morning, with the VN-Index adding another 0.86 per cent to close at 632.67 points, propped up again by bank and insurance stocks.
Large banks and insurers such as Military Bank (MBB), Vietcombank (VCB), Eximbank (EIB) and Bank for Investment and Development of Vietnam Insurance (BIC), besides Bao Viet Holdings (BVH) rose strongly, with two insurers hitting the ceiling price.
The VN30, which tracks the top 30 shares by market value and liquidity on the HCM Stock Exchange, also rose 0.55 per cent to end at 652.27 points.
The market condition was rather neutral, with 94 stocks rising, 89 declining and 121 going flat.
Nearly 70 million shares, worth more than VND1.15 trillion (US$52.8 million), were traded by the end of the session. Among them, Ocean Group (OGC) led the trading with six million of its shares being exchanged. But its price tumbled four per cent to stand at VND2,400 per share.
On the Ha Noi Stock Exchange, the HNX-Index was also up 0.31 per cent to finish at 88.51 points, but the market value remained modest at just VND301.6 billion ($13.8 million).
Kim Long Securities Co (KLS) led the trading here with just two million of its shares being exchanged, rising two per cent to reach VND10,200 each.
The afternoon session will start at 1pm.
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