Shares extend gains, banks in the focus

January 10, 2020 | 14:35

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Shares extended gains on the two national stock exchanges on Friday morning, driven by positive performance of banks.

Shares of Sai Gon-Ha Noi Bank (SHB) rose 7.8 per cent on Friday morning following its plan of hiking capital this year. - Photo vietnambiz.vn

The VN-Index on the Ho Chi Minh Stock Exchange increased 0.46 per cent to 964.57 points.

On the Ha Noi Stock Exchange, the HNX-Index was up 0.79 per cent to 102.05 points.

Both stock indices climbed on Thursday.

Liquidity remained high with a total of 147 million shares worth nearly VND5 trillion (US$215.5 million) being traded by the end of the morning session.

The market was supported by large caps with 19 of the top 30 shares by market value and liquidity on the Ho Chi Minh Stock Exchange gained and only 10 lost.

Banks were the biggest gainers. Vietinbank (CTG) and BIDV (BID) rose by 3.7 per cent each while Vietnam Prosperity Bank (VPB), Military Bank (MBB), Techcombank (TCB) and Eximbank (EIB) increased by 1-2 per cent.

Only Vietcombank (VCB) dropped 0.7 per cent despite the bank posting pre-tax profit of VND23.2 trillion, completing its profit goal of $1 billion on year earlier than its plan.

On the Ha Noi Stock Exchange, Sai Gon-Ha Noi Bank (SHB) also rose 7.8 per cent following the information the bank will issue more than 550 million shares to pay dividend (20.9 per cent) and offer new shares to existing shareholders to raise charter capital.

SHB will close the shareholder list on February 5.

The afternoon trade starts at 1pm.

VNA

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