Banks recover, but investors wary

banks recover, but investors wary hinh 0

The benchmark VN-Index on the Ho Chi Minh Stock Exchange inched down 0.18% to close at 767.49 points. The key index dropped 1.12% on July 17.

On the Hanoi Stock Exchange, the HNX-Index was down just 0.04% to end at 98.6 points after a 1.8% fall in the last session.

Blue chips remained on a downward spiral as 22 of the top 30 largest shares by market value and liquidity on the main bourse in HCM City lost value, and only seven advanced.

Gainers included banks, with three of the four largest listed lenders – Vietcombank (VCB), BIDV (BID) and Military Bank (MBB) – increasing 0.1-0.5%.

Smaller banks like Sacombank (STB) in HCM City’s market, Asia Commercial Bank (ACB) and Sai Gon-Hanoi Bank (SHB) on the Hanoi Stock Exchange picked up 0.8-3.4% each.

Industry-leading companies, such as PV Gas (GAS), VinGroup (VIC), Bao Viet Holdings (BVH), Hoa Phat Group (HPG), FPT Corp (FPT), Kido Group (KDC), Masan Group (MSN), Mobile World Group (MWG) and Saigon Securities Inc (SSI) continued to slide.

Liquidity decreased slightly with a total of 292.5 million shares worth VND5 trillion (US$221.4 million) being traded on the two bourses, down 12.6% in volume and 10.7% in value compared to July 17’s figures.

Foreign traders returned net buyers on the two markets on July 18 after a short selling in the previous session, picking up shares worth a combined net value of nearly VND86 billion.

The VN30 has expanded 18.7% since the beginning of this year, outperforming the 15.6% growth of the VN-Index as of July 17.

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