Shares rebound on banking stocks

December, 01/2021 - 17:39

Shares rebounded on Wednesday thanks to the recovery of large-caps and banking stock towards the final minutes of trading.


Customers at Tiên Phong Bank (TPB)'s transaction office. TPB soared 7 per cent on Wednesday. — Photo courtesy of TPB

HÀ NỘI — Shares rebounded on Wednesday thanks to the recovery of large-caps and banking stocks towards the final minutes of trading.

The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) gained 0.46 per cent to end at 1,485.19 points.

It had lost 0.43 per cent to end Tuesday at 1,478.44 points.

The market's breadth was neutral with 223 stocks rising, while 236 slid.

Market liquidity declined compared to the previous session as investors poured over VNĐ26.6 trillion (US$1.17 billion) into the southern exchange, equivalent to a trading volume of 876 million shares.

The 30 biggest stocks tracker VN30-Index rose 0.79 per cent, to end at 1,549.81 points. Nineteen in the VN30 basket decreased, while 10 increased.

In the VN-30 basket, the best performers were Bảo Việt Holdings (BVH), FPT Corporation (FPT), PetroVietnam Gas JSC (GAS), Hòa Phát Group (HPG), Masan Group (MSN), Novaland (NVL), Vingroup (VIC) and Việt Nam National Petroleum Group.

Banking stocks rebounded strongly and bolstered the market, with gainers including Sài Gòn Thương Tín Commercial Joint Stock Bank (STB), Sài Gòn-Hà Nội Bank (SHB), Asia Commercial Bank (ACB), Military Bank (MBB) and Vietinbank (CTG), VPBank (VPB), Techcombank (TCB), Tiên Phong Bank (TPB) and Liên Việt Post Bank (LPB).

Of them, Tiên Phong Bank hit the daily limit rise of 7 per cent, rising to VNĐ48,250 per share. HDBank (HDB) increased by 5 per cent to VNĐ32,000 per share.

According to financial news site, during this period investors should prioritise risk management and need to review the margin ratio and conduct portfolio restructuring to reduce this margin to avoid unexpected movements from the market.

Twelve out of 25 sectors on the market increased, including wholesale, real estate, healthcare, information and technology, banking, agriculture, oil and gas, food and beverage.

On the other side, losers were securities, logistics, seafood processing, rubber production and construction materials.

On the Hà Nội Stock Exchange (HNX), the HNX-Index lost 0.49 per cent to end Wednesday at 455.81 points.

The index had lost 0.55 per cent to end Tuesday at 458.05 points.

During the trading session, nearly 126.7 million shares were traded on HNX, worth nearly VNĐ3.2 trillion. — VNS