Stocks gain on first day after Tet

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VN-INDEX

1,254.56

+9.24/+0.74%

HNX-INDEX

238.56

+0.97/+0.41%

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-0.24/-0.25%

Stocks gain on first day after Tet

Vietnam News - 2/3/2017 9:38:48 AM

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Shares advanced on both local exchanges on Thursday in the first session after Tet, driven by real estate and insurance sectors.

The benchmark VN Index on the HCM Stock Exchange gained 0.5 per cent to reach a new nine-year high of 700.55 points. It had rallied by 2.2 per cent in four consecutive sessions before the Tet holiday.

The HNX Index on the Ha Noi Stock Exchange inched up 0.1 per cent to end at 84.56 points. The northern market index had risen 1.7 per cent in the last two days.

The insurance-finance and property sectors pushed the market up this morning as large-cap stocks advanced.

Among insurance-finance firms, BIDV Insurance Corp (BIC) and Bao Viet Holdings (BVH) went up by 1.2 per cent and 1.8 per cent, respectively.

Large-cap property developers such as Sai Gon Thuong Tin Real Estate JSC (SCR), Vingroup (VIC) and Kinh Bac City Development Holding Corp (KBC) rose between 0.4 per cent and 1.7 per cent.

Other blue chips that made gains include Faros Construction Corp (ROS), dairy producer Vinamilk (VNM) and PetroVietnam Gas Corp (GAS).

At the other end, bank stocks were mixed, with Vietcombank (VCB), Sacombank (STB) and MBBank (MBB) declining.

Around 62.2 million shares worth VND1.25 trillion (US$55.47 million) were traded.

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