Shares advanced further on the two local exchanges on February 13, driven by energy stocks’ continuing rise by three consecutive sessions of positive crude trading.
Investors survey the market at Tan Viet Securities Inc. Higher investor confidence in energy stocks kept local shares on the rise on February 13 (Photo: VNA)
Hanoi (VNA) - Shares advanced further on the two local exchangeson February 13, driven by energy stocks’ continuing rise by three consecutivesessions of positive crude trading.
Thebenchmark VN Index on the HCM Stock Exchange gained 0.3 percent to close at705.9 points. The southern market index has risen a total of 0.7 percent in thelast two days.
TheHNX Index on the Hanoi Stock Exchange was up 0.5 percent to end at 86.43points. The northern market index has rallied total 1.7 percent after fivetrading days.
Morethan 205 million shares were exchanged on February 13, worth 3.21 trillion VND,showing an increase of trading volume and a fall of trading value compared tolast week’s daily averages.
Thestock market was strongly supported by high investor confidence in energyshares, as oil prices had a three-day rally last week after a report said thatmembers of the Organisation of Petroleum Exporting Countries (OPEC) hadstrictly committed to its output cut deal.
Oiltrading was bolstered after OPEC members reduced 92 percent of their productionin January, followed by a 50 percent reduction by non-OPEC exporters.
Amonglocal energy shares, PetroVietnam Coating Corp (PVB) hit the daily tradinglimit of 9.8 percent, while PetroVietnam Technical Services Corp (PVS),PetroVietnam Mud Drilling Corp (PVC) and PetroVietnam Drilling and WellServices Corp (PVD) ranged between 5.4 percent and 6.6 percent.
Mid-capand penny stocks remained attractive to investors on expectations for betterperformances in 2017.
Amongthose shares, property developer FLC Group (FLC) hit the daily trading limit of7 percent after FLC’s CEO Huong Tran Kieu Dung told local media that the grouptargets a doubled revenue in 2017 with an earnings of 13 trillion VND from realestate segment.
Expectationsfor a positive year also helped agricultural group Hoang Anh Gia Lai JSC (HAG)jump 3 percent after it reported a lower loss of 302.8 billion VND in thefourth quarter of 2016, which was an improvement compared to 2015’s number.
FLCand HAG were also the two most active stocks in the market, with more than 21million shares of FLC and 9.85 million shares of HAG being exchanged.-VNA
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Investors survey the market at Tan Viet Securities Inc. Higher investor confidence in energy stocks kept local shares on the rise on February 13 (Photo: VNA) 
