Markets stay positive, courtesy bank and property shares

April 05, 2017 | 12:25

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Shares continued to rise slightly in both local markets on Tuesday morning as banks and property developers bounced back after recent fall.

Shares continued to rise slightly in both local markets on Tuesday morning as banks and property developers bounced back after recent fall.

The benchmark VN Index on the HCM Stock Exchange inched up 0.1 per cent to close at 723.05 points. The index had ended positively on Monday.

The HNX Index on the Ha Noi Stock Exchange gained 0.2 per cent to end at 91.13 points. The northern market index has risen by 0.1 per cent on Monday.

Banks rebounded after a two-day decline, on positive outlook and potential deals for the banking sector in 2017.

Among the nine listed banks, six advanced, with Asia Commercial Bank (ACB), Sacombank (STB), Vietcombank (VCB) and Sai Gon-Ha Noi Bank (SHB) being the strongest gainers.

Real estate developers also had a good trading session on Tuesday morning, driven by Kinh Bac City Development Holding Corp (KBC), FLC Group (FLC) and Vingroup (VIC).

Meanwhile, food and beverages stocks slumped on profit-taking after their recent rally. The sector was pulled down by brewer Sabeco (SAB) and dairy producer Vinamilk (VNM).

Energy stocks continued to suffer from low oil prices, and PetroVietnam Gas (GAS), PetroVietnam Coating (PVB) and PetroVietnam Technical Services (PVS) performed poorly.

Around 142.7 million shares worth a total of VND2.8 trillion (US$124.77 million) were traded on the two local bourses.

VNS

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