Bank stocks lift the VN-Index despite low opening

Monday, Dec 30, 2019 12:15

Vietcombank rose 2.12 per cent on Monday morning to VND91,600 (US$3.95) per share. — Photo

Bank shares jumped on Monday morning, lifting the VN-Index to 965.88 points, up 0.25 per cent over last week.

Eight of 11 lenders listing on the Ho Chi Minh Stock Exchange gained value, of which Techcombank (TCB) and Vietcombank (VCB) rose by more than 2 per cent. Vietinbank (CTG), Military Bank (MBB), Sai Gon-Ha Noi Bank (SHB) and BIDV (BID) grew by around 1 per cent.

Only Eximbank (EIB) edged down 0.3 per cent while Tien Phong Bank (TPB) and Ho Chi Minh Development Bank (HDB) closed flat.

A number of VN30 stocks (the top 30 largest shares by market value and liquidity) also gained and supported the market. The big gainers included FPT Corp (FPT), Masan Group (MSN) and Refrigeration Electrical Enginnering (REE) which increased by over 1 per cent.

On the negative side, Vinamilk (VNM), Vingroup (VIC), Coteccons Contruction (CTD) and FLC Faros Construction declined and weighed on the market.

Without the support of blue chips on the Ha Noi Stock Exchange, the HNX-Index inched down 0.16 per cent to 102.44 points by the end of the morning trade.

A total of 126.5 million shares worth combined VND2.4 trillion (US$104 million) were traded in the two markets.

The afternoon trade starts at 1pm. – VNS

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