Falling oil prices boost transportation stocks

October 27, 2015 | 14:36

(0) user say

Vietnamese shares ended mixed this morning on the two local exchanges, while transportation firms were impacted the most on the market by the falling global oil prices.

The benchmark VN Index on the HCM Stock Exchange moved up 0.2 per cent to close at 599.79 points. VNS Photo Doan Tung

The benchmark VN Index on the HCM Stock Exchange moved up 0.2 per cent to close at 599.79 points, and the HNX Index on the Ha Noi Stock Exchange fell 0.2 per cent to end at 81.33 points.

Transportation companies were the strongest stocks as they benefited from the drop in global oil prices. The American benchmark West Texas Intermediate (WTI) fell slightly 0.1 per cent over last night.

Companies in the transportation sector rose, such as Hai Minh Corporation (HMH) by 0.6 per cent, Mai Linh Central JSC (MNC) by 1.3 per cent and Vietnam Container Shipping Joint Stock Corporation by 0.7 per cent.

The banking sector index rose by just 0.1 per cent. The Bank for Investment and Development of Vietnam (BID) gained 0.8 per cent and Eximbank (EIB) added 0.9 per cent after it announced withdrawal of capital from Sacombank.

Brokerage companies also had a good morning session as the index gained 0.4 per cent, led by gains made by HCM City Securities Corporation (HCM) and Saigon Securities Incorporate (SSI). They increased by 0.6 per cent and 0.4 per cent, respectively.

The two local bourses traded nearly 83 million shares, worth VND1.47 trillion (US$65.2 million).

Hoang Quan Consulting-Trading-Service Real Estate Corporation was the most active stock this morning, with more than 7.2 million of its shares being traded, rising 4.7 per cent.

VNS

What the stars mean:

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