Business » Banking & Finance
Bank shares rise but indices decline
Stocks slipped this morning as investors rushed to realise profits after three successive days of gains.
In Ho Chi Minh City, the VN-Index slid 0.12 per cent to finish at 489.65.
The value of today's trades soared 72.6 per cent to almost VND3.28 trillion ($164 million) while trading volume jumped 64.6 per cent to almost 135 million shares.
Declines outnumbered advances 197-52.
Bank shares again performed well. Except for Sacombank (STB), which posted a gain of 4.3 per cent, Eximbank (EIB), Vietinbank (CTG) and Vietcombank (VCB) all hit the limit of their trading band.
Sacombank - almost 15 million shares sold - was the most active.
Blue chips such as insurer Bao Viet Holdings (BVH), PetroVietnam Finance (PVF) and property developer Vincom Co (VIC) also rose in value.
In Hanoi, the HNX-Index declined 1.77 per cent to close at 119.61.
But market volume and value doubled over yesterday to almost 111 million shares worth VND2.26 trillion ($113 million).
Declines were six times higher than advances.
Asia Commercial Bank (ACB), Hanoi Housing Bank (HBB) and Saigon - Hanoi Bank (SHB) rose - the latter two to their ceiling prices.
Hanoi Housing Bank (HBB) was the most heavily-traded share nation-wide with more than 16 million changing hands.
Latest News
- Techcombank Visa Platinum card launched in Vietnam (May 16, 2012)
- Vietnam's Sacombank plans $200 mln dollar bond (May 16, 2012)
- World Bank agrees $2bln loan for Indonesia (May 16, 2012)
- Bankers ask pointed questions (May 15, 2012)
- Interest rate initiative to benefit firms (May 14, 2012)
- Banking restructuring is nothing to be feared (May 14, 2012)
- Vietinbank issues international bonds (May 13, 2012)
- Indolent credit growth puzzle (May 10, 2012)
- Banks to postpone fees on internal ATM transactions (May 09, 2012)
- Sacombank hunts investors (May 07, 2012)
More News
- Vietnam metro line step closer with new ADB funding (Dec 14, 2010)
- Proposed regulatory reforms to impact Asia’s banking models (Dec 14, 2010)
- ECB steps up government bonds purchases (Dec 14, 2010)
- Banks look to end 2010 with a bang (Dec 13, 2010)
- Forex market jumps thanks to electronic revolution: BIS (Dec 13, 2010)
- Capital thirsty firms hunting for solutions (Dec 13, 2010)
- POSs set to multiply (Dec 12, 2010)
- Australia unveils sweeping banking reforms (Dec 12, 2010)
- Citibank Vietnam launches travel credit card (Dec 11, 2010)
- Foreign reserves keep growing (Dec 11, 2010)
The Techcombank Visa Platinum card has been rolled out for high-value VIP clients who enjoy travel, tourism and shopping.
