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Shares up on banking, energy stocks

HÀ NỘI — Vietnamese shares advanced on Wednesday with the two main stock indices rising, largely on the strength of a handful of banking and energy blue-chips.

The VN-Index on the Hồ Chí Minh Stock Exchange rose 0. 九 九 per cent to end trading at  九 九 四. 三 八 points.

The southern market index rose 0. 三 七 per cent to end Tuesday at  九 八 四. 六 七 points.

On the Hà Nội Stock Exchange, the HNX-Index increased 0.0 三 per cent to  一0 三.0 一 points.

The index increased 0. 三 八 per cent to end Tuesday on  一0 二. 九 八 points.

More than  二 三 三. 六 million shares worth nearly VNĐ 七. 四 trillion (US$ 三 一 六 million) were traded on the two markets.

The Vietnamese stock market was driven by real estate, insurance, securities, energy, banking, retail, food and beverage, rubber production, construction, and construction materials.

Their sector indices rose between 0.0 三 per cent and  二. 六 七 per cent, data on vietstock.vn showed.

Large-cap stocks advanced on Wednesday with the VN 三0-Index increasing by 0. 六 八 per cent to end at  九00. 五 四 points.

Pillars that supported the market included Vietcombank (VCB) (up  四 per cent), Vingroup (VIC) (up  一. 二 per cent), PetroVietnam Gas JSC (GAS) (up  二, 一 per cent) and Bank for Investment and Development (BID) (up  二. 九 per cent).

With the increase of world oil prices, local oil and gas stocks like PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD), Drilling Mud Joint Stock Corporation (PVC) and PetroVietnam Gas JSC (GAS) also advanced.

Future Brent crude oil price rose by  二 九 cents, or 0. 五 per cent, to $ 六0.0 三 per barrel. Future WTI oil prices rose  一 三 cents to $ 五 六. 三 四 per barrel.

The market was also supported by net buying from foreign investors. They net bought VNĐ 一 一 三. 三 五 billion on HOSE on Tuesday, including CMC Corporation (CMG) (VNĐ 二0 二. 九 五 billion), Cường Thuận IDICO Development Investment Coporation (CTI) (VNĐ 二 五. 四 四 billion) and Masan Group (MSN) (VNĐ 一 五. 八 四 billion). They were net sellers on the HNX with value of VNĐ 五 九.0 九 billion.

According to BIDV Securities Company, in favourable conditions, the VN-Index may test the strong resistance of  一,000 points this week.

Industrial real estate developers suffered strong profit taking pressure, which made them fall after strong gains in recent sessions. Decliners included Kinh Bắc City Development Holding Corp (KBC) (down  一. 六 per cent), Sonadezi Long Thanh Holding Company (SZL) (down  三 per cent) and Industrial Urban Development JSC No  二 (D 二D) (down  二 per cent). — VNS