Markets recover on bank, energy, brokerage stocks
Shares advanced in both local markets on Friday morning, driven by banks, brokerages and energy firms.
The benchmark VN Index on the HCM Stock Exchange gained 0.3 per cent to close at 714.83 points.
The HNX Index on the Ha Noi Stock Exchange rose 0.5 per cent to end at 88.86 points.
On Thursday, the VN Index had lost 0.6 per cent and the HNX Index had declined by 0.7 per cent.
Market trading liquidity was high with around 169.3 million shares worth VND4.88 trillion (US$217 million) being traded.
The significant rise in trading liquidity was attributed to the negotiation-based transaction of 60 million shares of consumer goods producer Masan Group, worth VND2.52 trillion.
Of the nine listed banks, Vietcombank (VCB), Sai Gon-Ha Noi Bank (SHB), BIDV (BID) and MB Bank (MBB) gained.
Energy stocks benefited from a slight recovery of global oil prices. Brent Crude closed on Thursday night at around $53 a barrel and was inching up slightly to trade at $53.02 a barrel on Friday morning.
Brokers such as HCM City Securities (HCM), MB Securities (MBS), Sai Gon Securities Inc (SSI) and VN Direct Securities (VND) rose on expectations that high market trading liquidity would help boost their earnings in the second quarter.
On Friday morning, the Viet Nam National Petroleum Group (Petrolimex) debut on the HCM Stock Exchange with an opening price of VND43,200 per share.
The company is listed under code PLX with nearly 1.3 billion shares. The company has become one of the top 10 largest listed firms with a market capitalisation of VND55.89 trillion.
The afternoon session starts at 1pm.