Vietnamplus

Billions of banking stocks are about to flood the market with banks planning to pay stock dividends and issue new shares to raise their charter capital.

Shares dropped on both Vietnamese markets on the first trading day of the week, following the uneasy global market climate.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) lost 2.7 points to close at 955.89 points on December 10.

Vietnamese shares ended in negative territory as large-cap banking stocks lost steam in the beginning of the month.

Vietnamese shares rose on both the northern and southern local exchanges on July 16 as more cash was poured into the banking sector.

Weak cash flow on July 9 pulled down the VN-Index on the Ho Chi Minh Stock Exchange to 915.12 points.

Shares plummeted on July 3 as strong selling pressure pushed the benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) and the HNX-Index on the Hanoi Exchange (HNX) to hit rock bottom in 2018.

The banking sector will enjoy another strong year in 2018, experts told a seminar in Ho Chi Minh City this week.

Vietnamese shares declined on April 18 as selling pressure hit many large-cap stocks.

Vietnamese shares posted a strong comeback on February 12 after a two-day collapse, due to strong investor interest in large-cap stocks that led the market upturn on expectations of good earnings reports.

Expectations of positive corporate earnings reports will lead Vietnamese shares up this week, especially financial-banking stocks, analysts said.