Vietnamese shares bounced back from a three-day losing streak on July 25 as investor confidence rebounded on banks’ six-month results and a lower chance of margin-call risk.
Investors monitor trading at the Royal International Securities JSC in Hanoi (Photo: VNA)
Hanoi (VNA) - Vietnamese shares bouncedback from a three-day losing streak on July 25 as investor confidence reboundedon banks’ six-month results and a lower chance of margin-call risk.
The benchmark VN Index on the HCM Stock Exchangerose 0.99 percent to close at 767.27 points, reversing a three-day loss of 1.5percent.
The HNX Index on the Hanoi Stock Exchange gained0.91 percent to end at 97.81 points. The northern market index had fallen total1.9 percent in the previous three sessions.
More than 234.3 million shares were traded on bothlocal exchanges, worth 4.8 trillion VND (213 million USD).
The trading figures on July 25 were increases of6.6 percent in trading volume and 35.6 percent in trading value compared to July24.
Foreign investors remained net buyers with totalnet buy value of 1.27 trillion VND, a seven-fold increase compared to thefigure made on July 24.
Bank stocks performed the best among 20 sectors onthe stock market. The banking sector index advanced 2.6 percent, accordingto vietstock.vn.
Seven of the nine listed bank stocks made gainswith shares of MB Bank (MBB) and Bank for Investment and Development of Vietnam(BID) rising 6.8 percent and 5.7 percent, respectively.
The two banks have announced their net profits inthe first half of 2017 increased by 35 percent and 2 percent year-on-year,respectively, to reach 2 trillion VND and 2.7 trillion VND.
Strong increases in the those two bank stocks alsohad a positive impact on others in the banking sector such as Sacombank (STB),Vietinbank (CTG) and Asia Commercial Bank (ACB).-VNA
Vietnam’s stock market will rise higher in the second half of 2017 provided macro-economic conditions remain positive as they were in the first half, experts have said.
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Vietnamese shares fell for a third session in both local markets on July 24, driven down by securities firms, energy companies and property developers.
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Investors monitor trading at the Royal International Securities JSC in Hanoi (Photo: VNA) 
