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|SHB closed the session on March 6 with a drop of 3.8 per cent|
The March 5 session showed great liquidity on the Hanoi Stock Exchange as 112 million stocks changed hands. More than half of these, equivalent to 65.5 million stocks, belonged to Saigon Hanoi Commercial Joint Stock Bank (HNX: SHB).
Moreover, contrary to the huge load of 23.59 million shares sold for a total of VND303 billion ($13.17 million), less than 5,000 SHB stocks were purchased for VND600 million ($26,090).
SHB closed the session on March 6 with a drop of 3.8 per cent, at VND12,400 (54 US cents). Besides, more than 10 million SHB stocks were registered for sale or purchase in the following sessions.
As of the end of the session on March 9, SHB stood at VND11,200 (49 US cent), down 9.68 per cent against March 6.
Indeed, SHB’s performance in recent years has been gloomy with the stock tending to fly low. As of the end of the session on December 9, SHB was at VND6,100 (26 US cents), lower than the VND6,800 (30 US cents) in late June. The sudden rise recently has been thanks to the purchase of VAMC’s bad debts ahead of schedule. That means the bank was fully qualified to issue 250 million stocks to pay dividends at the rate of 20.9 per cent. The stocks are forecast to be on trade in March.