Investors monitor trading at the Royal International Securities JSC in Hanoi (Photo: VNA) Hanoi (VNA) - Vietnamese shares bounced back from a three-day losing streak on July 25 as investor confidence rebounded on banks’ six-month results and a lower chance of margin-call risk.
The benchmark VN Index on the HCM Stock Exchange rose 0.99 percent to close at 767.27 points, reversing a three-day loss of 1.5 percent.
The HNX Index on the Hanoi Stock Exchange gained 0.91 percent to end at 97.81 points. The northern market index had fallen total 1.9 percent in the previous three sessions.
More than 234.3 million shares were traded on both local exchanges, worth 4.8 trillion VND (213 million USD).
The trading figures on July 25 were increases of 6.6 percent in trading volume and 35.6 percent in trading value compared to July 24.
Foreign investors remained net buyers with total net buy value of 1.27 trillion VND, a seven-fold increase compared to the figure made on July 24.
[Vietnam’s securities market grows more attractive to foreign investors]
Bank stocks performed the best among 20 sectors on the stock market. The banking sector index advanced 2.6 percent, according to vietstock.vn.
Seven of the nine listed bank stocks made gains with shares of MB Bank (MBB) and Bank for Investment and Development of Vietnam (BID) rising 6.8 percent and 5.7 percent, respectively.
The two banks have announced their net profits in the first half of 2017 increased by 35 percent and 2 percent year-on-year, respectively, to reach 2 trillion VND and 2.7 trillion VND.
Strong increases in the those two bank stocks also had a positive impact on others in the banking sector such as Sacombank (STB), Vietinbank (CTG) and Asia Commercial Bank (ACB).-VNA
VNA
