Thursday, May 23, 2019 7:39:05 PM - Markets open
VN-INDEX 982.71 -1.07/-0.11%
HNX-INDEX 106.30 +0.17/+0.16%
UPCOM-INDEX 55.40 +0.01/+0.02%
Bank stocks boost VN markets
Vietnam News - 3/13/2019 10:56:31 AM
 (0 ratings. You must sign in to rate.)
HÀ NỘI — Commercial banks lifted Vietnamese markets on Tuesday as investors got a boost from positive changes on global bourses.
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange gained 1.70 per cent to close at 1,001.32 points.
Successfully passing the 1,000 point level, the VN Index marked its highest level since October 8, 2018.
The VN-Index had dropped 1 per cent over three consecutive days.
On the Hà Nội Stock Exchange, the HNX Index was up 1.14 per cent to end at 109.55 points.
The northern market index increased by 1.23 per cent in the last two trading days.
More than 272.7 million shares were traded on the two bourses, worth VNĐ5.5 trillion (US$235.8 million).
The turnover of the stock market on Monday was attributed to strong growth of bank stocks.
The banking sector index jumped 3.8 per cent, data on showed.
Vietnamese bank stocks matched financial stocks across the globe following good news on Brexit talks between Britain and the EU.
According to Trần Đức Anh, head of macroeconomy and market strategy at KB Vietnam Securities, there was a strong connection between Vietnamese and other global markets.
Among the banking stocks that recorded high growth rates were the Bank for Investment and Development of Vietnam (BID), Vietinbank (CTG) and Sài Gòn-Hà Nội Bank (SHB), Vietcombank (VCB) and Military Bank (MBB).
The five banks rose at least 3.4 per cent.
In addition, the petroleum sector was the next best-performing industry with its industry index going up 2.1 per cent thanks to continuing increases of oil prices.
US benchmark West Texas Intermediate (WTI) and Brent on Monday gained around 1 per cent each to trade at $57.37-67.28 a barrel.
Investors were likely to start cashing on the gains in the coming days, leading to volatility, Thành Công Securities JSC (TCSC) said in a note.
The VN-Index was forecast to move between 980 points and 1,020 points in the next few days, the company said. — VNS
Read original article here
Newer News
14:17 VN stocks fall for a second day
21/05 Oil uptrend lifts VN stocks for seventh day
20/05 Market to face difficulties while VN-Index approaching 980 points
17/05 VN-Index rises despite selling pressure
16/05 VN-Index rises for third straight day
14/05 VN-Index ends in green on week’s first trading day
14/05 Hanoi Stock Exchange delists companies
13/05 VN stocks expected to decline, hopes rest on banks
13/05 Securities trading codes issued for more than 350 foreign investors in April
10/05 Derivatives market sees liquidity slump in April
Older News
12/03 VN stocks stay stable after ETF reviews
09/03 More foreign investors join Vietnam’s securities market
07/03 Shares gain ground as cash flow rises
06/03 Derivatives market trading liquidity signals stabilisation
06/03 Foreign investors piling on Vietnamese stocks
05/03 VN stocks to progress on annual meetings season
04/03 VN stocks to progress on annual meetings season
01/03 HFT: Securities to tie up with Korean firm
28/02 VN-Index returns to positive territory
25/02 Stock markets forecast to remain positive
Newsletter Signup
Top Stories
VAMC to reclaim US$2.13 billion in bad debts
HCM City: 46.8 percent of FDI goes to property sector
Vietnam Pepper Association not hopeful of global price recovery
HVN: Vietnam Airlines to pay $63.9 million cash dividend
Reference exchange rate kept unchanged on May 6
Market Update
Last updated at 3:11:16 PM
VN-INDEX 982.71 -1.07/-0.11%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.