Bourse market: stocks rebound on better sentiment
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.
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
You should also see
Prime Minister pays tribute to legendary founders of Vietnam
Prime Minister Pham Minh Chinh and other officials offered incense in commemoration of the Hung Kings, the legendary founders of Vietnam, at Kinh Thien Palace on Nghia Linh Mountain in Viet Tri city, the northern province of Phu Tho, on April 18 (the 10th day of the third lunar month).
See more
Business
Standard Chartered, US promote clean energy investments in Vietnam
Standard Chartered and the US Agency for International Development (USAID) have signed a Memorandum of Understanding (MoU) on green financing in Vietnam and to promote the deployment of advanced clean energy in Vietnam.
Business
Vietnam Airlines, Sun Group promote Vietnam’s tourism in RoK
National flag carrier Vietnam Airlines and Sun Group on April 17 held a tourism promotion event themed “The Magnificent Vietnam” in Seoul, aiming to promote Vietnam’s tourism potential, flights, and trade opportunities for Vietnam and the Republic of Korea (RoK).
Business
Overseas remittances to HCM City record highest increase in three years
Overseas remittances to Ho Chi Minh City exceeded 2.86 billion USD in the first quarter of 2024, an annual increase of 35.4% and the highest recorded in three consecutive years.
Business
Thu Duc city seeks investment in 11 PPP projects
Authorities of Thu Duc city, Ho Chi Minh City, held a conference on April 17 to draw investment in 11 public-private partnership (PPP) projects in the fields of education, culture and sports, with a total capital of over 2 trillion VND (83.3 million USD).
Videos
Real estate market thrives, entities ready to re-enter market
The real estate market has witnessed positive developments, with a slew of projects, including billion-dollar projects, being announced and called for investment in the first quarter of 2024.
