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Shares rise on energy, banks

Investor watching stocks move. — VNS Photo Thái Hà

HÀ NỘI — Shares rose on both local markets yesterday, boosted by the energy sector and a recovery of large-cap stocks.

The benchmark VN-Index on the HCM Stock Exchange was up 0. 七 七 per cent to end at  七 五 六. 八 九 points. Viet Nam’s key stock index has risen nearly  一 per cent in total after the last two sessions.

The HNX-Index on the Hà Nội Stock Exchange advanced 0. 四 九 per cent to finish at  九 七. 三 一 points. The northern market index recovered from a Monday loss of 0. 五 per cent.

More than  二 七 五 million shares were traded on both local bourses, worth nearly VND 五. 四 trillion (US$ 二 三 九. 八 million).

The energy sector recorded the strongest growth among  二0 industries in the stock market with support from a flat increase of oil prices during the last three days.

Brent crude inched up 0. 三 per cent to trade at $ 四 八. 四 二 a barrel, totaling a three-day rally of  一. 二 per cent.

The three-day rally of oil prices helped local energy stocks post good gains on Tuesday.

Among shares of companies that operate in the energy and related service industries, PetroVietnam Gas (GAS) rose  一. 八 per cent, PetroVietnam Coating (PVB) increased by  二. 八 per cent and PetroVietnam Mud Drilling (PVC) surged  六. 九 per cent.

Recovery of 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, hitting the daily trading limit of  六. 九 per cent. ROS has jumped nearly  一 四 per cent in two days.

Financial-banking stocks also recovered from their decline on Monday. Eight of the nine bank stocks advanced, with BIDV (BID), Asia Co妹妹ercial Bank (ACB), Vietinbank (CTG) and Sài Gòn-Hà Nội Bank (SHB) posting gains of more than  一 per cent.

Among brokerages, Sài Gòn-Hà Nội Securities (SHS), HCM City Securities (HCM), VNDirect Securities (VND) and Sài Gòn Securities Inc (SSI) were among the biggest gainers.

The VN-Index reached its fresh nine-year high as shares of banks, brokerages and energy firms had an impressive session, Sài Gòn-Hà Nội Securities (SHS) said in its daily report.

However, market trading liquidity rose only slightly in comparison to Monday’s figures and remained below the average number of the last  二0 sessions, proving that investors were still cautious, SHS added.

Investor confidence has remained low ahead of the US central bank’s two-day meeting on June  一 四, which could indicate the number of rate hikes expected in  二0 一 七. — VNS