Business

Shares rebound on end of bank liquidity crisis

The VN-Index returned to positive territory on March 3, gaining 1.26 percent to close the day at 507.32 points.
The VN-Index returned to positive territory on March 3, gaining 1.26 percent to close the day at 507.32 points.

The value of trades on the HCM Stock Exchange remained at about 1.5trillion VND (78.9 million USD) on an overall volume of 37.3 millionshares. Sacombank (STB) returned to its position as the most-activeshare, buoyed by its announced plan to increase charter capital to over9 trillion VND (473.7 million USD).

A statement by State Bank of Vietnam governor Nguyen Van Giau early onMarch 3 that commercial banks currently have about 30 trillion VND (1.6billion USD) in disposable capital available, helped lift the spirit ofdomestic investors as well as boost banking and financial shares duringthe day’s trading.

At the Hanoi Stock Exchange, the HNX-Index closed up an even moreimpressive 2.9 percent to 170.22. Trading became busier, generating aturnover of 1.1 trillion VND (57.9 million USD) on a volume of 32.9million shares. Kim Long Securities Co (KLS) continued its impressiveshowing, racking up a volume of 5.8 million trades.

Foreign investors returned to being net buyers again on March 3 on theHCM City market, picking up a net of nearly 300,000 shares./.
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