Banks, real estate and petro firms drive market up

October 02, 2018 | 15:50

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Vietnamese shares advanced on Tuesday morning, driven by real estate firms, petroleum companies and banks.

banks real estate and petro firms drive market up

Vietnamese shares advanced on Tuesday morning with a sharp increase of trading liquidity thanks to a foreign purchase of Masan shares.

The benchmark VN Index on the HCM Stock Exchange gained 0.64 per cent to close at 1,019.34 points. It finished down 0.42 per cent on Monday.

The HNX Index on the Ha Noi Stock Exchange ended almost flat at 115.57 points. The northern market index lost 0.65 per cent to finish Monday at 115.52 points.

More than 283 million shares were traded on the two local exchanges, worth nearly VND15 trillion (US$661.2 million).

The robust increase of trading liquidity was attributed to South Korea’s SK Group purchase of shares of consumer company Masan.

SK Group bought nearly 110 million shares of Masan, worth VND11 trillion.

However, Masan shares (MSN) fell 0.5 per cent on Tuesday morning.

The stock market was boosted by growth of petroleum, real estate and banking businesses.

The three industry indices rose between 0.9 per cent and 2.3 per cent, data on vietstock.vn showed.

The best performers in these three sectors included Bank for Investment and Development of Viet Nam (BID), Techcombank (TCB), PetroVietnam Gas (GAS), PetroVietnam Technical Services (PVS), Vingroup (VIC) and Thang Long Investment Group (TIG).

The afternoon trading session starts at 1pm.

VNA

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