Banking and oil stocks push shares up

August 20, 2019 | 15:47

(0) user say

Vietnamese shares rose thanks to the positive movements of banking and energy stocks.

The Vietnamese stock market was driven by the securities, energy, banking, retail, construction and seafood processing sectors.-Photo blog.siliconstraits.vn

The VN-Index on the Ho Chi Minh Stock Exchange inched up 0.08 per cent to end the morning session at 981.79 points.

On the Ha Noi Stock Exchange, the HNX-Index increased 0.15 per cent to 102.74 points.

Some 104 million shares worth nearly VND2.5 trillion (US$108 million) traded on the two markets.

The Vietnamese stock market was driven by the securities, energy, banking, retail, construction and seafood processing sectors.

Their sector indices rose between 0.02 per cent and 0.96 per cent, data on vietstock.vn showed.

Large-cap stocks dropped with the VN30-Index decreasing by 0.04 per cent to end at 891.42 points.

Banking stocks such as Việt Nam Thương Tín Commercial Joint Stock Bank (VBB), Asia Commercial Bank (ACB), Vietcombank (VCB) and Vietinbank (CTG) all made gains. Notably, VBB increased 4.9 per cent to VND15,000 per share, ACB rose 1.4 per cent to VND22,300 per share and VCB climbed 0.5 per cent to VND77,200 per share.

With the increase of world oil prices, local oil and gas stocks like PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD), Drilling Mud Joint Stock Corporation (PVC) and PetroVietnam Gas JSC (GAS) also advanced. Future Brent oil price increased by $1.1, equivalent to 1.88 per cent, to $59.74 per barrel. Future WTI oil prices rose $1.34, equivalent to 2.44 per cent, to $56.21 per barrel.

The afternoon trading session starts at 1pm.

VNA

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional