Banks, brokerages lift local markets

May 29, 2017 | 16:09

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Shares rose in both local markets on Monday morning, boosted by banks and brokerages.

Shares rose in both local markets on Monday morning, boosted by banks and brokerages.

The benchmark VN Index on the HCM Stock Exchange added 0.48 per cent to end at 746.95 points. It had gained 0.2 per cent on Friday.

The HNX Index on the Ha Noi Stock Exchange was up 0.7 per cent to close at 94.34 points. It had rallied by total 1.9 per cent in the previous three days.

Around 189.7 million shares worth VND3.44 trillion (US$152.9 million) were traded on Monday morning.

Shares of banks and securities firms continued to lift the stock market. Half of the nine bank stocks advanced between 0.4 per cent and 4.8 per cent, including Asia Commercial Bank (ACB), Vietinbank (CTG), Sacombank (STB) and Vietcombank (VCB).

The brokerage sector was driven up by shares of Sai Gon Securities (SSI), MB Securities (MBS), Vietinbank Securities (CTS) and VNDirect Securities (VND). SSI gained 0.8 per cent, while the other three advanced between 1.5 per cent and 7.9 per cent.

Shares of the two sugar producers Thanh Thanh Cong Tay Ninh Sugar JSC (SBT) and Bien Hoa Sugar JSC (BHS) also posted good gains in the morning after a merger plan between the two companies was approved last week. While SBT rose 2.2 per cent, BHS hit the daily trading limit of 7 per cent.

VNS

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