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Insurance stocks boost VN shares
Vietnamese shares rose on both local bourses this morning, led by insurance stocks, after ending mixed on Thursday.
The benchmark VN Index on the HCM Stock Exchange extended its rally, rising 0.5 per cent to close at 573.33 points, and the HNX Index on the Ha Noi Stock Exchange inched up 0.2 per cent to end at 79.44 points.
The insurance sector showed a positive trend, led by the largest insurance stocks such as Bao Viet Holdings (BVH), PVI Holdings (PVI), BIDV Insurance Corporation (BIC) and Bao Minh Insurance Corporation (BMI).
These stocks increased by 0.9 per cent, 2.6 per cent, 1.8 per cent and 2.3 per cent, respectively.
However, energy stocks declined as American benchmark crude West Texas Intermediate (WTI) fell after gaining in the previous three trading sessions, after American crude stockpiles continued to rise, conflicting with the OPEC's plan to cut production to boost prices.
The energy sector was on downward trend, led by PetroVietnam Drilling and Well Service Corporation (PVD) and PetroVietnam Coating Corporation (PVB), which dropped 0.8 per cent and 1.3 per cent, respectively.
Both local markets traded nearly 99 million shares, worth VND1.4 trillion (US$63 million).
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