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Insurance, bank stocks lead market rise
Shares made strong gains this morning as investors were bullish on the market prospects.
On the HCM Stock Exchange, the VN-Index exceeded the psychological level of 600 points, gaining 1.2 per cent to end at 602.13 points.
The overall market condition was positive, with 134 stocks rising, 62 falling and 114 closing unchanged.
Insurance companies and banks were leading the market rise. Bao Viet Holdings (BVH), Bao Minh Insurance (BMI), BIDV Insurance (BIC) and Petrolimex Insurance (PGI) advanced between 1.8 per cent and 4.3 per cent.
Large-cap banks such as the Bank for Investment and Development of Vietnam (BID), Vietcombank (VCB), Military Bank (MBB) and Vietinbank (CTG) also rose substantially.
Liquidity improved slightly, with 58.5 million shares, worth VND1.06 trillion (US$47.3 million), being traded here by the end of the morning.
On the smaller bourse in Ha Noi, the HNX-Index also added 0.6 per cent to end at 81.9 points, with more than 23 million shares, worth VND276.5 billion ($12.3 million), being traded.
The afternoon session will start at 1pm.
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