Bank stocks lift both markets
Bank stocks lift both markets
Shares continued to rise on Monday morning as bank stocks maintained their momentum.
The benchmark VN Index closed 0.7 per cent higher at 684.34 points on the HCM Stock Exchange. The gauge gained 1.8 per cent last week.
On the Ha Noi Stock Exchange, the HNX Index also edged up 0.7 per cent to end at 82.63 points. It increased 2.3 per cent in the previous week.
Most of the large listed banks on the two exchanges extended gains on Monday morning, buoying up the market.
Lender BIDV (BID) was the biggest gainer with a 3.5 per cent rise, followed by Vietinbank (CTG), up 3 per cent. The biggest listed lender Vietcombank (VCB) was up 2.4 per cent. Both Sacombank (STB) and Asia Commercial Bank (ACB) increased over 2 per cent.
On Monday morning, over 564.4 million shares of Vietnam International Commercial Joint Stock Bank (VIB) made their debut on the Unlisted Public Company Market (UPCoM) under the code VIB.
VIB shares traded at VND19,000 (US$0.84) a share, 11.8 per cent higher than its debut price of VND17,000. At this rate, VIB’s market capitalisation reached around VND10.7 trillion, or $474.5 million.
The overall market condition was negative as losing stocks outnumbered the ones that gained by 183-174; the remaining 351 closed flat.
A total of 69.6 million shares worth a combined VND1.5 trillion were traded in the two markets.
The afternoon session starts at 1pm.
