Indices continue to rise on banking gains

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VietNam News English - 31 month(s) ago 4 readings

Stock indices hit another winning day this morning on the two national stock exchanges, with banking stocks continuing to draw heavy investment despite warnings by many analysts that prices were inflated and likely to fall.

HA NOI –

On the HCM City bourse, Military Bank (MBB) witnessed 11.6 million shares changing hands, by far the most active stock, while over 4 million shares in Eximbank (EIB) were traded and 3 million in Sacombank (STB).

On the Ha Noi bourse, Ha Noi Housing Bank (HBB) continued to be the most heavily-traded stock with another 10.4 million shares exchanged, while over 5.8 million shares in Sai Gon-Ha Noi Bank (SHB) and nearly 2 million shares in Asia Commercial Bank (ACB) also changed hands.

Eight of nine listed banks gained value, of which five soared to their ceiling prices, including EIB, HBB, ACB, SHB and Nam Viet Bank (NVB). Only STB lost ground, falling 2.2 per cent after four consecutive ceiling-hitting sessions.

Besides banks, other blue chips performed well on the HCM City market, lifting the benchmark VN-Index by over 1 per cent to close today at 427.95 points.

The VN30 Index, which tracks the performance of the 30 leading shares by market value and liquidity, also added 1.2 per cent to finish at 491 points.

Total market value slumped 33.5 per cent from yesterday, reaching VND1.53 trillion (US$72.9 million). Volume of trades also decreased 29 per cent to just over 89.5 million shares.

Gainers outnumbered advancers by 131-95 overall.

On the Ha Noi Stock Exchange, the HNX-Index rose another 1.31 per cent from yesterday, concluding today at 69.58 points.

Trading value reached nearly VND587.4 billion ($28 million), down 15 per cent over yesterday, while market volume declined 24 per cent to 64.3 million shares.

Advancers edged decliners by a margin of 164-93. – VNS

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