Banks lead market rebound
Banks lead market rebound
Shares rebounded this morning on the two exchanges, propped up by the recovery made by banks.
The benchmark VN-Index on the HCM Stock Exchange increased 0.83 per cent to close at 565.72 points.
Meanwhile, on the smaller exchange in Ha Noi, the HNX-Index inched up 0.21 per cent to end at 79.06 points.
Most of the bank stocks advanced this morning, including Vietcombank (VCB), Bank for Investment and Development of Vietnam (BID),Sacombank (STB), and Eximbank (EIB), besides Asia Commercial Bank (ACB), with the increases ranging from 0.5 per cent to five per cent.
Sacombank was the largest gainer, with a rise of 5.3 per cent to touch VND11,900 (US$0.53) per share.
Other blue chips also performed well. Many of the top 30 shares by market value and liquidity climbed, such as insurer Bao Viet Holdings (BVH), software producer FPT Corp (FPT) and real estate developer VinGroup (VIC).
The overall market condition was positive, with 31 per cent of the 683 trading stocks advancing, while only 20 per cent declined.
Liquidity remained low, however, with a total of 74.5 million shares, worth a combined VND986 billion ($44 million), being traded on the two exchanges.
The afternoon session will start at 1pm.
