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Stocks rebound with bank and securities shares
Both of Viet Nam's stock indices rose steadily on Dec. 15 with bank shares again performing strongly. In HCM City, three of four banks to post gains hit their ceiling prices as did four of five in Ha Noi.
The seven were Vietinbank (CTG), Eximbank (EIB), Vietcombank (VCB), Asia Commercial Bank (ACB), Ha Noi Housing Bank (HBB), Sai Gon-Ha Noi Bank (SHB) and Sai Gon Maritime (SHC).
The Government's decision to extend the deadline for credit institutions to comply with higher charter capital requirement seems to have further lifted investor expectations of a long-term market rise, especially in bank shares.
In HCM City, the VN-Index rose 0.78 per cent to finish at 493.47.
But market value decreased 33 per cent from yesterday to VND2.2 trillion (US$109.4 million). The volume of today's trades also declined 29.2 per cent to more than 95.6 million shares.
Blue chips gained. Bao Viet Holdings (BVH) increased 2.1 per cent; Phu My Fertiliser (DPM) 4.1 per cent; Masan Group (MSN) 1.6 per cent and Vincom Company (VIC) 3.9 per cent.
But declines still outnumbered advances 146-77.
Sacombank (STB) was still the most active share with more than 9 million sold. It rose 2.4 per cent to close at VND17,300 ($0.87).
In Ha Noi, the HNX-Index closed at 120.6, or 0.83 per cent higher than yesterday.
Market volume declined to more than 78.9 million shares from yesterday's record of 111 million and were worth VND1.55 trillion ($77.8 million).
Declines were four times higher than advances.
Ha Noi Housing Bank (HBB)- 12.6 million shares exchanged - was again the most heavily-traded shares nation-wide.
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