Hanoi (VNA) - Vietnamese shares advanced on August 9 as the oil sector was boosted by a positive trend in gl🍒obal oiꦗl prices.
The benchmark VN Index on the HCM Stock Exchange rose 1.3 percent to finish at 637.34 points, extending a gain of 1.6 percent for a second day.
The HNX Index on the Hanoi Stock Exchange rebounded 0.8 percent from a six-day slide of 3.2 percent to close at 81.67 points.
The oil sector on August 9 led the gainers as oil prices did well to bounce back from intraday-trading lows.
US crude West Texas Intermediate (WTI) was traded at 43 USD a barrel, up very slightly from closing price of 42.99 USD a barrel on August 8 , after having fallen 1.1 percent during the session.
London-traded Brent crude managed to climb back and stood at 45.32 USD a barrel, down 0.2 percent from closing price of USD45.39 a barrel on August 8 .
Large-cap oil stocks advancing such as PetroVietnam Gas Corp (GAS), PetroVietnam Drilling and Well Services Corp (PVD) and PetroVietnam Technical Services Corp (PVS) made gains.
GAS added 1.7 percent, PVD jumped 3.6 percent and PVS surged 6.7 percent.
Other leading industries such as insurance firms, property developers and food and beverage producers also improved.
Leading stocks in those sectors helped lift the market as usual, including insurer B a o Vi e t Holdings (BVH), property and retail corp Vingroup JSC (VIC), dairy firm Vinamilk (VNM) and consumer goods producer Masan Group (MSN).
BVH and MSN each increased by 1.7 percent, VIC was up 1.8 percent and VNM advanced 2.5 percent.
Ho a ng Anh Gia Lai JSC (HAG) and its subsidiary Ho a ng Anh Gia Lai International Agriculture JSC (HNG) surged 5.7 percent and 5.3 percent after the two firms announced schedules to organise annual shareholders’ meetings in mid-September, local media reported.
On the other side, Dream House Investment Corp (DRH) and Tr uo ng Th a nh Furniture Corp (TTF) continued to sink following negative news about their business.
DRH and TTF plunged 6.7 percent and 6.9 percent, respectively, totalling eight-day and 16-day plummets of 38 percent and 68 percent.
Better investor sentiment helped boost trading liquidity compared to August 8 , however, “investors were still waiting for positive signals of the market”, S a i go n- Hanoi Securities Corp wrote in its daily report.
More than 132 million shares were exchanged across the board, worth nearly 2.5 trillion VN D (110.5 million USD), an increase of one-third from previous day ’s trading value.-VNA
Shares declined on August 1 on the two exchanges as investors sold large-cap stocks to earn short profits after the earnings prospect runs out of steam.
Shares declined for four days in a row on August 3, dragging the benchmark VN-Index to a one-month low as blue chips maintained their downward trend and global oil prices continued to dwindle.
Shares lost most of the value gained in morning session on August 4 as increased investor selling in the afternoon eroded confidence in the ongoing rally.
Vietnamese shares were mixed on August 8 while investor confidence in the market prospects remained low, pulling market trading to its lowest level since mid-February.
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Illustrative image (Source: VNA)
