Shares rebound slightly on bank stocks' recovery

September 12, 2017 | 15:53

(0) user say

The benchmark VN-Index bounced back slightly on Tuesday morning, up 0.04 per cent at 797.81 points, as bank stocks recovered.

The benchmark VN-Index bounced back slightly on Tuesday morning, up 0.04 per cent at 797.81 points.

Five of seven listed banks on the HCM Stock Exchange advanced and only one declined.

Military Bank (MBB), one of the Big Four, increased 1.6 per cent to VND22,800 (US$1) per share. The bank also led the market by volume with nearly five million shares traded.

The three other largest banks on the exchange – Vietcombank (VCB), Vietinbank (CTG) and BIDV (BID) – moved up by less than one per cent each.

Besides banks, major stocks in the steel manufacturing, retail and finance sectors, such as Masan Group (MSN), Bao Viet Holdings (BVH), Hoa Sen Group (HSG) and Saigon Securities Inc (SSI), as well as FPT Corp (FPT) and Mobile World Group (MWG), also advanced.

On the defensive side, many large-cap stocks slumped and weighed down the market, including Vinamilk (VNM), brewer Sabeco (SAB), VinGroup (VIC), PV Gas (GAS) and Hoa Phat Group (HPG).

On the Ha Noi Stock Exchange, the HNX-Index edged up 0.56 per cent to 103.47 points.

A total of over 97 million shares worth a combined VND2.3 trillion ($101.6 million) were traded on the two markets.

Afternoon trade starts at 1pm.

VNA

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional