An investor watching stocks move (Photo: VNA) Hanoi (VNA) - Shares rose on both local markets on June 13, boosted by theenergy sector and a recovery of large-cap stocks.
Thebenchmark VN-Index on the HCM Stock Exchange was up 0.77 percent to end at756.89 points. Vietnam’s key stock index has risen nearly 1 percent in totalafter the last two sessions.
TheHNX-Index on the Hanoi Stock Exchange advanced 0.49 percent to finish at 97.31points. The northern market index recovered from a June 12 loss of 0.5 percent.
Morethan 275 million shares were traded on both local bourses, worth nearly 5.4trillion VND (239.8 million USD).
Theenergy sector recorded the strongest growth among 20 industries in the stockmarket with support from a flat increase of oil prices during the last threedays.
Brentcrude inched up 0.3 percent to trade at 48.42 USD a barrel, totaling athree-day rally of 1.2 percent.
Thethree-day rally of oil prices helped local energy stocks post good gains onTuesday.
Amongshares of companies that operate in the energy and related service industries,PetroVietnam Gas (GAS) rose 1.8 percent, PetroVietnam Coating (PVB) increasedby 2.8 percent and PetroVietnam Mud Drilling (PVC) surged 6.9 percent.
Recoveryof some large-cap stocks was another factor that contributed to market gains.Shares of FLC Faros Construction (ROS) extended rapid gains for a second day, hittingthe daily trading limit of 6.9 percent. ROS has jumped nearly 14 percent in twodays.
Financial-bankingstocks also recovered from their decline on June 12. Eight of the nine bankstocks advanced, with BIDV (BID), Asia Commercial Bank (ACB), Vietinbank (CTG)and Saigon-Hanoi Bank (SHB) posting gains of more than 1 percent.
Amongbrokerages, Saigon-Hanoi Securities (SHS), HCM City Securities (HCM), VNDirectSecurities (VND) and Saigon Securities Inc (SSI) were among the biggestgainers.
TheVN-Index reached its fresh nine-year high as shares of banks, brokerages andenergy firms had an impressive session, Saigon-Hanoi Securities (SHS) said inits daily report.
However,market trading liquidity rose only slightly in comparison to the June 12 figuresand remained below the average number of the last 20 sessions, proving thatinvestors were still cautious, SHS added.
Investorconfidence has remained low ahead of the US central bank’s two-day meeting onJune 14, which could indicate the number of rate hikes expected in 2017.-VNA
VNA
