HANOI: Vietnam’s benchmark VN Index rose 0.2 percent by midday on Tuesday, boosted by buying in blue chips, including banking stocks, while falls in energy shares limited further gains.
Vietcombank, the country’s largest listed bank by market value, rose 2.38 percent, while shares of BIDV rose 2.15 percent. Shares of the other four listed banks also advanced.
Hanoi-based BIDV, which completed its acquisition of a smaller lender on Monday, has projected its gross profit to rise 16 percent a year to reach $458 million in 2017, a BIDV executive was quoted by a state-run newspaper on Tuesday as saying.
Petrovietnam Gas, the country’s biggest listed firm by market capitalisation, was among four energy stocks that dropped on Tuesday morning, capping the market’s gain. GAS fell 1.56 percent.
Investors should increased buying, including stocks in the banking and infrastructure sectors, BIDV Securities said in a note to clients.
