Investors at Bao Viet Securities Company. (Source: VNA)Hanoi (VNA) - Sharesrose on both local markets on December 1 following a deal between OPEC andnon-OPEC exporters on extended oil output cuts and expectations for goodfourth-quarter earnings reports.
The benchmark VN Index gained 1.09percent to close at 960.33 points, rebounding from a fall of 0.23 percent on theprevious day.
The VN Index has increased by total2.6 percent this week and nearly 14.7 percent in the last one month.
The HNX Index on the Hanoi StockExchange added 0.67 percent to end the day at 115.49 points, totaling athree-day rise of 3.6 percent.
The northern market index gained 4.2percent on a weekly basis and has advanced 9.8 percent since the end of October.
More than 301.3 million shares weretraded on local bourses on December 1, worth 6.27 trillion VND (roughly 278.9million USD).
Gaining stocks outnumbered losers by270 to 167, while151 others were unchanged.
Energy, brokerage, and food andbeverage stocks were major lifts for the stock market on the day as the firsttwo sector’s indices posted a growth rate of 1.6 percent each while the latterjumped nearly 4 percent.
Energy shares, along with brokerageand food and beverage stocks, were also the centre of attention on December 1as investors placed high expectations for those companies to release goodfourth quarter earnings reports, according to VPBank Securities Company (VPBS).
VPBS said in a note that investorswould seek opportunities in safe assets and offer stable growth at the momentwith high prospects for good earnings during the end of 2017 and early 2018such as brokerages, food and beverages, and energy.– VNA
