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Bank, petroleum stocks buoy VN-Index

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HCMC – Strong cash flow and the drastic rise of bank and petroleum stocks helped the VN-Index close the day up 1.79% at 828.33 points today, May 11.

On the Hochiminh Stock Exchange, there were 246 rising stocks and 119 others closing down. There were 353.42 million shares worth VND6.25 trillion changing hands, falling by 4.83% in volume and 11% in value against the session earlier. The southern bourse saw the contribution of VND1.76 trillion of shares traded in block deals.

Many stocks in the VN30 basket recorded growth, except construction company ROS and aviation firm VJC that posted a slight fall.

Bank stocks improved strongly, with TCB posting a 6.9% increase and VPB with a 5.7% increase. BID, CTG, VCB, MBB and STB also improved by over 1%.

Petroleum stocks gained ground, including GAS and PVT with a 4.9% and 3.45% increase, respectively.

Large-cap stocks, including housing developer VHM, dairy firm VNM and consumer goods producer MSN, made a strong gain.

On the Hanoi Stock Exchange, the HNX-Index rose by 1.41% to 111.57 points, with 91 rising stocks and 49 others closing down. There were 51.1 million shares worth VND459.45 billion changing hands, falling by 17.58% in volume and 15.54% in value from the previous session.

Petroleum stocks enjoyed positive growth, including PVS, PVB and PVC with growth rate of 5%, 2.9% and 6%, respectively.

Bank stock ACB rose by 1.4% while SHB added 2.9%.

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