Bank shares rise but indices decline

Stocks slipped this morning as investors rushed to realise profits after three successive days of gains. In HCM City, the VN-Index slid 0.12 per cent to finish at 489.65.

The value of today's trades soared 72.6 per cent to almost VND3.28 trillion (US$156.2 million) while trading volume jumped 64.6 per cent to almost 135 million shares.

Declines outnumbered advances 197-52.

Bank shares again performed well. Except for Sacombank (STB), which posted a gain of 4.3 per cent, Eximbank (EIB), Vietinbank (CTG) and Vietcombank (VCB) all hit the limit of their trading band.

Sacombank - almost 15 million shares sold - was the most active.

Blue chips such as insurer Bao Viet Holdings (BVH), PetroVietnam Finance (PVF) and property developer Vincom Co (VIC) also rose in value.

In Ha Noi, the HNX-Index declined 1.77 per cent to close at 119.61.

But market volume and value doubled over yesterday to almost 111 million shares worth VND2.26 trillion ($107.6 million).

Declines were six times higher than advances.

Asia Commercial Bank (ACB), Ha Noi Housing Bank (HBB) and Sai Gon - Ha Noi Bank (SHB) rose - the latter two to their ceiling prices.

Ha Noi Housing Bank (HBB) was the most heavily-traded share nation-wide with more than 16 million changing hands.

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