Vietnam stocks up as banks, energy firms advance

December 27, 2017 | 14:41

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Vietnamese shares advanced further on Wednesday morning, lifted by banks and energy firms.

Vietnamese shares advanced further on Wednesday morning, lifted by banks and energy firms on expectations for good quarterly earnings reports.

The benchmark VN Index on the HCM Stock Exchange gained 0.55 per cent to close at 971.26 points. It rose total 2.1 per cent in the previous three sessions.

The HNX Index on the Ha Noi Stock Exchange was up 1.26 per cent to end at 115.50 points, extending its growth from a two-day increase of 0.9 per cent.

More than 171 million shares were traded on the two local exchanges, worth VND3.47 trillion (US$154.2 million).

According to securities firms, the VN Index would move up narrowly, with much of investors’ focus on stocks that could provide good quarterly earnings reports, such as banks and energy companies.

Nine of the 10 bank stocks advanced. Asia Commercial Bank (ACB) posted the strongest growth of 5.8 per cent, followed by Sacombank (STB), Vietcombank (VCB) and Vietinbank (CTG).

Among energy shares, PetroVietnam Gas (GAS) increased by 2.1 per cent, PetroVietnam Mud Drilling (PVC) jumped 3.1 per cent and PetroVietnam Drilling and Well Services (PVD) was up 1.9 per cent.

Consumer and steel stocks also performed well, including Hoa Phat Group (HPG), Vinamilk (VNM) and Thanh Thanh Cong Tay Ninh Sugar JSC (SBT).

The afternoon trade session starts at 1pm.

VNA

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