Stocks up on banking-finance sector

March 24, 2017 | 16:56

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Finance-banking stocks were the most important factor that lifted Vietnamese shares again on the two local exchanges on Friday morning.

Banks, insurance-finance firms and brokerage companies continued to be the main support for the market on Friday morning.

The benchmark VN Index on the HCM Stock Exchange inched up 0.2 per cent to close at 721.06 points. The southern market index ended up 0.9 per cent on Thursday.

The HNX Index on the Hà Nội Stock Exchange gained 1.3 per cent to end at 91.08 points after rising slightly on Thursday.

Market trading liquidity remained high with nearly 170.9 million shares being traded, worth VNĐ2.7 trillion (US$120 million).

Banks, insurance-finance firms and brokerage companies continued to be the main support for the market on Friday morning.

Six of the nine listed banks on both local bourses advanced, with Asia Commercial Bank (ACB), Sài Gòn-Hà Nội Bank (SHB) and Sacombank (STB) being the strongest gainers.

Other listed companies in the finance-banking sector also made gains, including insurance-finance group Bảo Việt Holdings (BVH), Bảo Việt Securities Corp (BVS), FPT Securities Corp (FTS) and Sài Gòn Securities Inc (SSI).

Other large-cap stocks such as dairy producer Vinamilk (VNM), PetroVietnam Gas Corp (GAS) and Faros Construction Corp (ROS) also moved upwards.

On the opposite side, property developers, agriculture firms and energy producers declined, preventing the stock market from making further gains.

These included property firm Vingroup (VIC), PetroVietnam Drilling and Well Services Corp (PVD) and Hoàng Anh Gia Lai JSC (HAG).

VNS

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