Bank shares continued to rise on January 7 after the State Bankincreased the US dollar exchange rate by 1 percent from 21,246 VND perdollar to 21,458 VND, boosting both bourses.
On the Ho Chi MinhStock Exchange, shares of banks such as Vietinbank (CTG), Eximbank(EIB), Military Bank (MBB), Sacombank (STB) and the Bank for InvestmentDevelopment of Vietnam (BIDV) rose between 0.6 and 3 percent.Vietcombank (VCB), which lost 1.2 percent, was the exception.
Saigon-Hanoi Bank (SHB) and Asia Commercial Bank (ACB) also climbed more than 1 percent on the Hanoi Stock Exchange.
Theforex adjustment did not surprise the market, as many experts andorganisations had predicted the central bank would depreciate theVietnamese dong in the first quarter of this year. Many banks on January6 also unexpectedly raised their forex rate to the ceiling.
Last month, the central bank confirmed it would not let the value of the dong depreciate by more than 2 percent this year.
InHo Chi Minh City, the benchmark VN-Index gained 0.43 percent to closethe session at 552.05 points. The VN30, which tracks the top 30 sharesby market value and liquidity, inched up 0.21 percent to end at 607.65points.
The market condition was neutral as advancers outnumbered decliners by just 127-112 while the other 67 stocks closed unchanged.
Marketvalue dropped 10 percent over January 6, however, reaching almost 1.8trillion VND (84.1 million USD) on trades of nearly 112 million shares.
FLCGroup (FLC) reclaimed the position of the most active stock by the endof the session with 12.6 million shares traded, rising 0.9 percent tosettle at 11,200 VND a share. Ocean Group (OGC) was pushed to secondplace on trades of 10.5 million shares but the share price slumped 4.05percent to finish at 7,100 VND.
On the Hanoi Stock Exchange, theHNX-Index also climbed 0.45 percent to close at 84.18 points as gainersoutnumbered losers by 109-86 and 165 closed flat.
Liquidityslightly improved over the previous session with trading value rising 10percent to reach 686 billion VND (32.1 million USD). Market volume waslittle changed, totaling 53.3 million shares.
FLC's investmentarm, KLF Joint Venture Global Investment Co (KLF), remained the mostactive code with 8.5 million shares traded, slipping 0.87 percent to endat 11,400 VND a share.
Foreign investors unexpectedly concludedthe session as net sellers in Ho Chi Minh City, unloading shares worth95 billion VND (4.4 million USD). They were still net buyers on Hanoi'sexchange but picked up only 8.8 billion VND (411,000 USD) worth ofshares.-VNA
On the Ho Chi MinhStock Exchange, shares of banks such as Vietinbank (CTG), Eximbank(EIB), Military Bank (MBB), Sacombank (STB) and the Bank for InvestmentDevelopment of Vietnam (BIDV) rose between 0.6 and 3 percent.Vietcombank (VCB), which lost 1.2 percent, was the exception.
Saigon-Hanoi Bank (SHB) and Asia Commercial Bank (ACB) also climbed more than 1 percent on the Hanoi Stock Exchange.
Theforex adjustment did not surprise the market, as many experts andorganisations had predicted the central bank would depreciate theVietnamese dong in the first quarter of this year. Many banks on January6 also unexpectedly raised their forex rate to the ceiling.
Last month, the central bank confirmed it would not let the value of the dong depreciate by more than 2 percent this year.
InHo Chi Minh City, the benchmark VN-Index gained 0.43 percent to closethe session at 552.05 points. The VN30, which tracks the top 30 sharesby market value and liquidity, inched up 0.21 percent to end at 607.65points.
The market condition was neutral as advancers outnumbered decliners by just 127-112 while the other 67 stocks closed unchanged.
Marketvalue dropped 10 percent over January 6, however, reaching almost 1.8trillion VND (84.1 million USD) on trades of nearly 112 million shares.
FLCGroup (FLC) reclaimed the position of the most active stock by the endof the session with 12.6 million shares traded, rising 0.9 percent tosettle at 11,200 VND a share. Ocean Group (OGC) was pushed to secondplace on trades of 10.5 million shares but the share price slumped 4.05percent to finish at 7,100 VND.
On the Hanoi Stock Exchange, theHNX-Index also climbed 0.45 percent to close at 84.18 points as gainersoutnumbered losers by 109-86 and 165 closed flat.
Liquidityslightly improved over the previous session with trading value rising 10percent to reach 686 billion VND (32.1 million USD). Market volume waslittle changed, totaling 53.3 million shares.
FLC's investmentarm, KLF Joint Venture Global Investment Co (KLF), remained the mostactive code with 8.5 million shares traded, slipping 0.87 percent to endat 11,400 VND a share.
Foreign investors unexpectedly concludedthe session as net sellers in Ho Chi Minh City, unloading shares worth95 billion VND (4.4 million USD). They were still net buyers on Hanoi'sexchange but picked up only 8.8 billion VND (411,000 USD) worth ofshares.-VNA
