City shares rise, highlighted by bank stocks
City shares rise, highlighted by bank stocks
Shares gained this December 17 morning on the HCM City Stock Exchange, with the VN-Index adding 0.44 per cent to 393.93 points.
Vietinbank (CTG) bottomed out from the opening minutes until the end of this morning's session, reaching VND19,400 per share (US$0.9). The stock was heavily sold after exchange-traded fund Vaneck excluded it from the Market Vector Viet Nam Index.
Meanwhile, two other banking blue chips – Sacombank (STB) and Eximbank (EIB) – enjoyed growth and high trading volume. At around 10am, EIB saw nearly 19 million shares change hands through the negotiation method with a total value of some VND278 billion ($13.2 million). It finished this morning up 0.7 per cent.
Sacombank (STB) rose 4.2 per cent to VND19,800, almost reaching the daily increase limit. The bank posted on its website last Friday that Tram Trong Ngan, son of Sacombank's vice chairman Tram Be, sold his entire 4.93 per cent stake.
This again raised rumours the bank would soon be acquired.
The total trading value in HCM City hit VND724.25 billion ($34.4 million) on a volume of 52.9 million shares. The VN30, tracking the southern bourse's top shares, also edged up 0.43 per cent to 462.70 points.
Meanwhile, on the Ha Noi Stock Exchange, the HNX-Index lost 0.39 per cent, reaching 54.23 points.
The HNX30, composed of the exchange's 30 leading stocks, however, bucked the trend to add 0.14 per cent to 100.83 points.
With over 39 million shares traded, market value in Ha Noi reached VND271.7 billion ($12.9 million).
Afternoon trading was expected to begin at 1pm.
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