Brokerages, finance-banking firms lift stock market

Vietnamese shares rose on both local markets on Monday morning, boosted by the insurance-finance-banking sector.

Shares of brokerage firms lifted the two local markets on Monday morning.

The benchmark VN Index on the HCM Stock Exchange added 0.45 per cent to close at 792.20 points. It gained total 1.5 per cent in the past week.

The HNX Index on the Ha Noi Stock Exchange advanced 0.83 per cent to end at 102.79 points. The northern market index increased by a total of 1.4 per cent last week.

Nearly 192 million shares were traded across the two local exchanges, worth VND2.92 trillion (US$130 million).

Shares of brokerage firms lifted the stock market on Monday morning. In the first seven months of 2017, average trading volume and value on Viet Nam’s stock market increased by 54 per cent from the previous years.

This has been a supportive factor to boost share prices of listed securities companies on both local bourses as their earnings in the past quarter have shown improvements.

Among the largest gainers in the securities sector were BIDV Securities (BSI), Agribank Securities (AGR), MB Securities (MBS) and Sai Gon-Ha Noi Securities (SHS).

Some individual stocks also posted good gains thanks to their business information. Mobile World Corporation (MWG) was up two per cent after the company announced late last week it would spend VND2.5 trillion on M&A deals.

The afternoon session starts at 1pm.

Source VNA