Oil stocks lift market

February 21, 2019 | 17:14

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Shares climbed on Thursday morning thanks to strong performances by oil stocks as global oil prices rise.

Local energy stocks that posted gains included PetroVietnam Gas (GAS), PetroVietnam Drilling and Well Services (PVD) and PetroVietnam Power Corp (POW).

The benchmark VN-Index on the Ho Chi Minh Stock Exchange rose 0.76 per cent to close at 977.95 points.

The southern market index inched up 0.65 per cent to close at 970.58 points on Wednesday.

More than 90 million shares were traded on the southern bourse, worth VND2.1 trillion (US$91.2 million).

Other large-cap stocks also performed well, boosting the blue-chip VN30 Index 0.61 per cent to 917.33 points.

Fifteen of the 30 largest stocks by market capitalisation in the VN30 basket advanced while 10 declined.

Petroleum stocks continued rising on the expansion of oil prices.

US crude was up 0.4 per cent, or 21 cents, at $57.37 per barrel. Brent crude was 0.1 per cent, or 8 cents, higher at $67.16.

Local energy stocks that posted gains included PetroVietnam Gas (GAS), PetroVietnam Drilling and Well Services (PVD) and PetroVietnam Power Corp (POW).

The HNX-Index on the Ha Noi Stock Exchange lost 0.01 per cent to end at 106.29 points.

The northern market index inched up 0.09 per cent to end at 106.30 points on Wednesday.

Nearly 16.3 million shares were traded on the northern bourse, worth VND253 billion.

The afternoon trading session starts at 1pm.

VNA

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