Sacombank turns heads

Some 148 million STB shares were changed hands via put-through transaction. The bank’s two major shareholders ANZ and Refrigeration Electrical Engineering Corp. (REE) announced to divest their entire stakes in the bank.

REE also jumped 3.51 per cent with more than 500,000 million shares matched.

The banking stock also outperformed Ho Chi Minh Stock Exchange (HoSE) with 3.5 million shares matched, hitting the ceiling to VND16,800.

Several major stocks turned head to rise tracking the STB’s dramatic surge. Pillar stock Vincom Corp. (VIC) hit the ceiling strongly supporting the market, while Masan Group (MSN) and Vinamilk (VNM) advancing.

Financial shares Saigon Securities Inc. (SSI), Vietcombank (VCB) significantly rose. Military Bank (MBB) and Vietinbank (CTG) slightly gained. PetroVietnam Fertilisers (DPM) also jumped.

Advancers outran decliners 110 to 91 on the southern bourse, helping HoSE’s VN-Index adding 2.59 points or 0.77 per cent to close at 339.32 points. A number of major stocks, particularly real-estate ones, kept falling.

Trading volumes of other stocks than STB, however, were almost unchanged. Total volume reached 171.2 million shares worth VND2.6 trillion ($125.6 million).

“Difficulties in the early stage of economic restructure made investors cautious in purchasing stocks, despite the attractive prices,” said Saigon-Hanoi Securities.

The government’s newly-released Decision 01 to focus on reining in inflation, stabilising macroeconomics is believed to weigh on enterprises and stock market, according to Maritime Bank Securities.

Hanoi Stock Exchange (HNX) lost 0.16 points, or 0.29 per cent, to close at 55.27 points. Major stocks are still bailed out.

Up to 201 stocks were unchanged on the northern bourse. Advancers outran decliners 101 to 91. Liquidity was hardly improved, hitting 22.3 million shares worth VND158.6 billion ($7.7 million).