Banks, energy firms extend the market’s gains

October 30, 2017 | 14:57

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Shares rose on the two local exchanges on Monday morning, driven by banks and energy firms.

Shares rose on Monday morning in both local markets as banks and energy firms made big gains.

The benchmark VN Index on the HCM Stock Exchange gained 0.76 per cent to close at 846.77 points. It rose 1.24 per cent on Friday.

The HNX Index on the Ha Noi Stock Exchange added 0.42 per cent to end at 106.90 points after increasing by 0.13 per cent on Friday.

More than 125 million shares were traded on both local bourses, worth VND2.51 trillion (roughly US$111.9 million).

Bank stocks and oil and gas shares played the main role to drive up the market on Monday morning.

The energy sector benefited from recent gains of global crude prices.

US crude WTI gained 5.1 per cent since October 19, while Brent crude increased by 5.6 per cent during the same period.

Shares of leading energy firms like PetroVietnam Gas (GAS), PetroVietnam Technical Services (PVS) and PetroVietnam Drilling and Well Services (PVD) advanced.

Meanwhile, the banking sector was pulled up by half of the 10 bank stocks that advanced, the largest ones in the industry.

The gainers were Bank for Investment and Development of Viet Nam (BID), VPBank (VPB), Asia Commercial Bank (ACB), Vietcombank (VCB) and Vietinbank (CTG).

The afternoon trade session starts at 1pm.

VNA

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