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Shares climb for fourth consecutive day
Shares closed higher this morning on the two exchanges, supported by strong growth of oil and gas companies.
The VN-Index on the HCM Stock Exchange climbed another 1.4 per cent to close at 563.57 points, while the HNX-Index on the Ha Noi bourse gained 0.54 per cent to end at 77.44 points, extending the rally to four days in a row.
The second largest stock by market capitalization, PV Gas (GAS) hit the daily ceiling limit of seven per cent rise this morning, after the global oil price jumped more than 10 per cent, its largest gain in the past six years.
This is the third consecutive session in which GAS has closed at the ceiling price.
Other oil and gas companies such as PetroVietnam Drilling and Wells Service (PVD), PetroVietnam Drilling Mud (PVC) and PetroVietnam Technical Service (PVS), rose strongly.
Saigon Securities Inc (SSI) also drew much interest this morning, following news that the State Securities Commission has approved the company's proposal to hike foreign ownership there to 100 per cent from September 1.
SSI advanced five per cent, with 6.6 million of its shares being exchanged, becoming the second-most active stock this morning in HCM City.
Liquidity remained positive, with nearly 108 million shares, worth more than VND1.7 trillion (US$75.6 million), being traded on the two markets.
The afternoon session will begin at 1pm.
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