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VietNamNews

Bank stocks fuel market growth

Update: June, 16/2015 - 09:28
Bank stocks bounced back yesterday after a week of high volume sales, helping lift the VN-Index to 586.48 points, up 0.64 per cent over Friday's close.. — Photo ndh
HA NOI (VNS)  — Bank stocks bounced back yesterday after a week of high volume sales, helping lift the VN-Index to 586.48 points, up 0.64 per cent over Friday's close.

On the HCM Stock Exchange, Military Bank (MBB) hit its ceiling at VND14,800 (US$0.68) a share and Vietinbank (CTG) closed at near-ceiling price of VND20,800 ($0.95) each.

Other lenders like Vietcombank (VCB), BIDV (BID) and Eximbank (EIB) also increased 2.3-3.9 per cent.

Blue chips, which tracks the top 30 shares by market value and liquidity, were mixed with a barely noticeable gain of 0.04 per cent.

Real estate shares did not fair so well, losing momentum as many hot shares such as VinGroup (VIC), Dat Xanh Real Estate Service & Construction (DXG), Thu Duc Housing Development (TDH), Song Da Urban & Industrial Zone Investment & Development (SJS) and Khang Dien Investment & Trading House (KDH) turned down in a decline.

Few held up with gains. Tan Tao Investment Industry (ITA) went up 3 per cent and Hong Quan Consulting Trading Service Real Estate (HQC) was up 1.7 per cent.

FLC Group (FLC), the most active code with 28 million shares traded, closed flat at VND9,500 a share.

The market condition was neutral with 108 stocks rising, 106 tumbling and 89 going flat.

Liquidity remained positive as almost 155 million shares worth VND2.28 trillion ($104.6 million) were exchanged by the end of the session.

On the Ha Noi Stock Exchange, the HNX-Index extended gains to its fourth consecutive day with a modest rise of 0.47 per cent to end the session at 88.36 points.

Banks like Asia Commercial Bank (ACB) and Sai Gon-Ha Noi Bank (SHB) propped up the market. SHB was also the most heavily-traded stock with 6.4 million shares and climbing 2.5 per cent to finish at VND8,300.

The market volume dropped 10 per cent from Friday's level, totaling 63.4 million shares, and trade value fell 20 per cent to reach VND731.5 billion ($33.6 million).

Foreign traders were had a mixed showing yesterday. They unloaded shares worth a net VND31 billion ($1.4 million) in the southern bourse but were responsible for a net buy of VND21.2 billion ($972,500) in northern counterpart. — VNS


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