Oil prices up, VN stocks keep progressing

December 13, 2019 | 13:24

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Vietnamese shares advanced on Friday morning as positive moves of global crude helped boost the local petroleum sector.

oil prices up vn stocks keep progressing

PetroVietnam Gas Corporation's engineers at a facility. The company shares gained 0.7 per cent on Friday morning. - Photo vietnamfinance.vn

The benchmark VN-Index on the Ho Chi Minh Stock Exchange was up 0.29 per cent to close at 971.02 points.

The southern market index had gained a total of 0.82 per cent in the previous two days.

The minor HNX-Index on the Ha Noi Stock Exchange rose 0.44 per cent to end the morning session at 103.17 points.

The northern market index has increased by total 1.10 per cent since Wednesday.

More than 150.7 million shares were traded on the two bourses, worth VND2.57 trillion (US$111.3 million).

The stock market received a strong boost from the energy and petroleum sector thanks to the gains of oil prices.

Brent crude and WTI edged up 0.52-0.65 per cent during the day to trade at $59.47-64.62 a barrel.

Petroleum stocks such as PetroVietnam Gas (GAS), PetroVietnam Coating (PVB) and PetroVietnam Drilling and Well Services (PVB) grew between 0.7 per cent and 1.4 per cent.

Bank shares also advanced. Gainers in the banking sector included Vietinbank (CTG), Sai Gon-Ha Noi Bank (SHB), Bank for Investment and Development of Vietnam (BID) and Asia Commercial Bank (ACB).

The afternoon trading session starts at 1pm.

VNA

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