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VN-Index rises for second day, led by banks
The rise of banks continued to prop up the market this morning, but low liquidity continued to worry investors.
The VN-Index on the HCM Stock Exchange rose 0.9 per cent to close at 571.80 points, while on the Ha Noi Stock Exchange, the HNX-Index gained 0.83 per cent to end at 77.90 points.
Bank shares continued to provide the market momentum, as seven of the total nine listed banks extended gains, though on a slower pace between one and two per cent.
BIDV (BID) continued to gain the maximum at two per cent, ending the morning at VND25,900 (US$1.15).
Oil and gas companies also climbed. PV Gas (GAS), PetroVietnam Drilling and Well Services (PVD), PetroVietNam Low Pressure Gas Distribution (PGD) and Petroleum Equipment Assembly and Metal Structure (PXS) edged up between one and five per cent.
Liquidity remained low with a total 69 million shares, worth VND1.1 trillion ($48.9 million), being traded on the two exchanges.
Sixteen stocks saw trading of more than one million shares, led by Bac Giang Exploitable Mineral (BGM) and Phat Dat Real Estate Development (PDR), with more than 2.7 million of their shares being exchanged on each code.
The afternoon session will start at 1pm.
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