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Financial stocks lift the market
Vietnamese shares extended their gains on both local exchanges this morning, led by financial firms.
The benchmark VN Index on the HCM Stock Exchange was up 0.4 per cent to close at 578.59 points, and the HNX Index on the Ha Noi Stock Exchange gained 0.3 per cent to end at 78.83 points.
Insurance companies led the market this morning, as the insurer sector index rose 1.3 per cent. The largest insurance firms that rose included Bao Viet Holdings (BVH) and Bao Minh Insurance Corporation (BMI), which gained 1.9 per cent and 1.2 per cent, respectively.
Banks also improved their value. Vietcombank (VCB) gained 1.4 per cent, the Bank for Investment and Development of Vietnam (BID) was up one per cent and Sai Gon Ha Noi Bank (SHB) rose 1.6 per cent.
The market also received support from other large stocks such as PetroVietnam Gas Corporation (GAS), which gained 1.1 per cent, and FPT Corporation (FPT), which was up 0.6 per cent.
On the negative side, Vingroup JSC (VIC) fell two per cent as investors began to take profits in this stock after its recent gains.
The stock market traded more than 68.8 million shares, worth VND1.03 trillion (US$45.7 million).
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