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Vietcombank lifts banking sector
Vietnamese shares ended mixed this morning on the two local exchanges, while Vietcombank lifted the banking sector.
The benchmark VN Index on the HCM Stock Exchange gained 0.3 per cent to close at 577.29 points. Meanwhile, the HNX Index on the Ha Noi Stock Exchange dropped 0.2 per cent to end at 80.43 points.
The banking sector made good gains this morning, led by Vietcombank (VCB), after the bank announced it could sell 10 per cent of its capital to foreign investors to raise funds. VCB rose 2.4 per cent this morning.
Other banks that also rose this morning included the Bank for Investment and Development of Viet Nam (BID) and Sacombank (STB), which gained 0.6 per cent and 1.9 per cent, respectively.
The stock market was also lifted by Telecommunication Industry Electronics JSC (TIE) and An Phat Plastic and Green Environment JSC (AAA).
TIE surged 6.1 per cent after the state-owned Saigon Industry Corporation (CNS) reduced its ownership in TIE to 20 per cent from 70 per cent.
AAA added 1.2 per cent after the company announced at the shareholder meeting on Saturday that it would allow foreign investors to have a higher stake in the company.
However, energy stocks pull down the markets after oil prices declined on Friday.
PetroVietnam Gas Corporation (GAS) lost 2.2 per cent and PetroVietnam Mud Drilling Corporation (PVC) fell 2.7 per cent.
Both local markets traded more than 103 million shares, worth VND1.4 trillion (US$61.7 million).
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