An investor at Vietcombank Securities Company. (Photo: VNA)Hanoi (VNA) - Vietnamese sharesextended gains for a second session in both local markets on June 29, driven bythe financial sector.
The benchmark VN Index on the HCM StockExchange advanced 0.35 percent to close at 771.75 points, marking a two-dayincrease of 0.5 percent.
The HNX Index on the Hanoi Stock Exchangeadded 0.45 percent to finish at 98.80 points. The northern market index hasrisen total 0.8 percent in two sessions.
More than 253.3 million shares were exchangedon both local bourses, worth 4.26 trillion VND (189.4 million USD).
Financial stocks with banks, brokerages andother large-cap companies were to thank for market gains on June 29, accordingto BIDV Securities (BSC).
Four of the nine bank stocks, MBBank (MBB),BIDV (BID), Vietcombank (VCB) and Asia Commercial Bank (ACB), advanced between0.4 percent and 2.3 percent.
Local media reported that gains of bankstocks were caused by positive investor confidence after shares of Kien LongBank started trading on the Unlisted Public Company Market (UPCoM) under symbolKLB on June 29 and soared 14 percent.
Brokerage firms that saw their share pricesup included Saigon Securities Inc (SSI), BIDV Securities (BSI) and HCM CitySecurities (HCM).
The Hanoi Stock Exchange’s vice generaldirector Nguyen Thi Hoang Lan said that the market regulator had completedpreparations for the derivatives market and new products will be launched inAugust.
The three brokerages listed above would beable to trade derivatives products after the HNX granted them trading permitsin May and June.
Other stocks that contributed to the gainswere gas station operator Petrolimex (PLX), consumer goods producer Masan Group(MSN) and agriculture firms Hoang Anh Gia Lai (HAG) and HAGL Agrico (HNG).
The benchmark VN Index has approached thelevel of 770 points and the lift mainly came from blue-chip stocks as the VN30Index, which covers the performance of the 30 largest companies by marketcapitalisation, rose 4.11 points and broke its short-term peak of 760 points,BSC said.
Cash continued to spread out among sectors,signaling that money remained active on the market, the brokerage said, addingthat the VN Index is expected to move in the range of 770 and 775 points in thenext few sessions.-VNA
VNA
