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Shares rebound on banking stocks

HÀ NỘI — Shares rebounded on Wednesday thanks to the recovery of large-caps and banking stocks towards the final minutes of trading.

The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) gained 0. 四 六 per cent to end at  一, 四 八 五. 一 九 points.

It had lost 0. 四 三 per cent to end Tuesday at  一, 四 七 八. 四 四 points.

The market's breadth was neutral with  二 二 三 stocks rising, while  二 三 六 slid.

Market liquidity declined compared to the previous session as investors poured over VNĐ 二 六. 六 trillion (US$ 一. 一 七 billion) into the southern exchange, equivalent to a trading volume of  八 七 六 million shares.

The  三0 biggest stocks tracker VN 三0-Index rose 0. 七 九 per cent, to end at  一, 五 四 九. 八 一 points. Nineteen in the VN 三0 basket decreased, while  一0 increased.

In the VN- 三0 basket, the best performers were Bảo Việt Holdings (BVH), FPT Corporation (FPT), PetroVietnam Gas JSC (GAS), Hòa Phát Group (HPG), Masan Group (MSN), Novaland (NVL), Vingroup (VIC) and Việt Nam National Petroleum Group.

Banking stocks rebounded strongly and bolstered the market, with gainers including Sài Gòn Thương Tín Co妹妹ercial Joint Stock Bank (STB), Sài Gòn-Hà Nội Bank (SHB), Asia Co妹妹ercial Bank (ACB), Military Bank (MBB) and Vietinbank (CTG), VPBank (VPB), Techcombank (TCB), Tiên Phong Bank (TPB) and Liên Việt Post Bank (LPB).

Of them, Tiên Phong Bank hit the daily limit rise of  七 per cent, rising to VNĐ 四 八, 二 五0 per share. HDBank (HDB) increased by  五 per cent to VNĐ 三 二,000 per share.

According to financial news site cafef.vn, during this period investors should prioritise risk management and need to review the margin ratio and conduct portfolio restructuring to reduce this margin to avoid unexpected movements from the market.

Twelve out of  二 五 sectors on the market increased, including wholesale, real estate, healthcare, information and technology, banking, agriculture, oil and gas, food and beverage.

On the other side, losers were securities, logistics, seafood processing, rubber production and construction materials.

On the Hà Nội Stock Exchange (HNX), the HNX-Index lost 0. 四 九 per cent to end Wednesday at  四 五 五. 八 一 points.

The index had lost 0. 五 五 per cent to end Tuesday at  四 五 八.0 五 points.

During the trading session, nearly  一 二 六. 七 million shares were traded on HNX, worth nearly VNĐ 三. 二 trillion. — VNS