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Property, construction firms lift VN stocks
Vietnamese shares rose slightly on both local markets this morning, led by property developers and construction companies.
The benchmark VN Index on the HCM Stock Exchange and the HNX Index on the Ha Noi Stock Exchange inched up 0.1 per cent each to close at 572.35 points and 79.43
Property developers and construction companies made gains after the finance ministry said the revised Circular 36 would not reduce the financial loans for the property sector.
Among these companies, Cotec Construction JSC (CTD) gained 0.6 per cent, Petroleum Equipment Assembly and Metal Structure JSC (PXS) added 1.7 per cent, property firm FLC Group (FLC) increased by 1.5 per cent, and Vingroup JSC (VIC) inched up 0.2 per cent.
Additionally, energy stocks also made gains. PetroVietnam Gas Corporation (GAS) was up 1.2 per cent, while PetroVietnam Mud Drilling Corporation (PVC) and PetroVietnam Drilling and Well Service Corporation (PVD) rose 2.7 per cent and 2.6 per cent, respectively.
However, insurance companies and banks extended their losses. Insurance firm Vietnam National Reinsurance Corporation (VNR) lost 4.2 per cent, Vietcombank (VCB) was down 0.5 per cent, and Asia Commercial Bank (ACB) fell 1.1 per cent.
Both local markets traded nearly 125 million shares, worth VND1.84 trillion (US$82 million).
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