Higher oil prices help VN stocks

February 26, 2016 | 14:01

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Vietnamese shares bounced back this morning on both local exchanges, led by energy stocks, as oil prices extended their gains on trading exchanges.

The benchmark VN Index on the HCM Stock Exchange inched up 0.2 per cent to close at 563.72 points. - VNS Photo Gia Vi

The benchmark VN Index on the HCM Stock Exchange inched up 0.2 per cent to close at 563.72 points, and the HNX Index on the Ha Noi Stock Exchange added 0.4 per cent to end at 78.81 points.

The energy sector index rose 0.8 per cent as the world's largest oil exporters plan to meet next month to boost prices, which helped crude prices rebound during yesterday's trading session.

American benchmark crude West Texas Intermediate (WTI) yesterday rose 2.8 per cent to close trading at US$33.06 a barrel, and London-traded Brent crude increased by 2.2 per cent to end at $35.16 a barrel.

Among local energy stocks, PetroVietnam Gas Corporation (GAS) gained 1.4 per cent, and PetroVietnam Drilling and Well Service Corporation (PVD) was up 1.7 per cent.

Viet Nam's stock markets also received strong boost from insurance firm Bao Viet Holdings (BVH), which rose 1.9 per cent, and brokerage firm HCM City Securities Corporation (HCM), which added 2.3 per cent.

Market liquidity was low, with more than 79 million shares worth VND1.3 trillion ($59 million) being traded.

VNS

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