Stocks extend gains on investor optimism

January 09, 2015 | 09:04

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Stocks extended their gains on the HCM Stock Exchange, with the benchmark VN-Index rising above the key level of 555 points to close this morning's session at 555.73 points.

The VN30, which tracks the top 30 shares by market value and liquidity, also added 0.22 per cent to end at 609 points. - Photo Vneconomy

Investors have reportedly become more optimistic and believe that the global oil prices no longer have great impact on the local stock exchange, as they did in the past.

Oil and gas shares started to rebound, with PV Gas (GAS), the largest stock in terms of market value, increasing 1.45 per cent to stand at VND70,000 (US$3.27) per share, and PetroVietnam Drilling and Wells Service Corp (PVD) rising 0.84 per cent to end at VND60,000 ($2.80) each.

Most bank stocks continued to climb this morning, with major shares such as Vietcombank (VCB), Bank for Investment Development of Vietnam (BID), Sacombank (STB) and Military Bank (MBB) gaining value. Eximbank (EIB) was flat, while Vietinbank (CTG) declined by 0.69 per cent.

The VN30, which tracks the top 30 shares by market value and liquidity, also added 0.22 per cent to end at 609 points.

Liquidity declined slightly compared with yesterday morning, with just nearly 42 million shares worth VND727 billion ($ 34 million) being traded by the end of the morning.

On the Ha Noi Stock Exchange, the HNX-Index also inched up 0.23 per cent to finish at 84.38, but the trading value was very low at just VND282.1 billion ($13.2 million).

The afternoon session will start at 1pm.

VNS

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