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VN stocks rise on both local markets
Vietnamese shares, led by the banking sector, rose in the early session on both local exchanges.
The benchmark VN Index on the HCM Stock Exchange gained 1.1 per cent to close at 567.38 points, extending its rally to a fifth day, and the HNX Index on the Ha Noi Stock Exchange bounced back 0.6 per cent from Tuesday's fall to end at 78.68 points.
The banking sector index jumped 3.9 per cent, led by the Bank for Investment and Development of Vietnam (BID), which surged 6.5 per cent after it received strong investment from foreign investors.
Other large banks also helped to lift the markets. Vietcombank (VCB) and Sacombank (STB) increased by 3.7 per cent each and Vietinbank (CTG) rose by 4.7 per cent.
Brokerage stocks also made good gains this morning after the market liquidity remained high in the last few sessions. This is expected to help raise companies' earnings in the stock trading business.
Among these firms, Sai Gon Securities Incorporate (SSI) rose 1.8 per cent, HCM City Securities Corporation (HCM) leaped 2.7 per cent and VNDirect Securities Corporation (VND) was up 0.9 per cent.
Meanwhile, energy stocks extended their losses on declining oil prices. PetroVietnam Gas Corporation (GAS) lost 1.9 per cent and PetroVietnam Technical Service Corporation (PVS) fell 1.3 per cent.
Both local exchanges traded more than 131 million shares, worth VND1.78 trillion (US$78 million).
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