Sacombank announced that it had earned VND2.2 trillion (US$104.8 million) in the first 11 months of the year, meeting 91.3 per cent of its target for the full year.
"Despite Sacombank only announcing an 11-month result, investors were pleased since the result was consistent with what they had expected about banking profits," said independent analyst Nguyen Anh Dung. "Some commercial banks even announced the completion of full-year targets a couple months back."
On the HCM City Stock Exchange yesterday, the VN-Index closed essentially unchanged at 473.05 points. The value of trades reached only VND 917.1 billion (US$43.7 million) on a meagre volume of 38.8 million shares.
The low volume of trades raised concerns that buying power wouldn't last long, Dung said.
"Day traders should be careful about participating now as the markets are uncertain and unpredictable," he added.
Gainers outnumbered decliners on the HCM City bourse yesterday by 119 to 99, with all banking stocks advancing, including VietinBank (CTG), up 2.8 per cent; Eximbank (EIB), up 1.85 per cent; Vietcombank (VCB), up just over 1 per cent; and Sacombank (STB), up 0.64 per cent.
Other blue chips rallied, as well, including insurer Bao Viet Holdings (BVH) and Phu My Fertilisers (DPM).
On the Ha Noi Stock Exchange, the HNX-Index closed up by 0.22 per cent to 111.43 points. Volume remained low at 36.2 million shares, worth VND704.6 billion ($33.6 million), while Kim Long Securities Co (KLS) claimed the position as most-active share with 6.4 million traded.
Foreign investors continued as net buyers on both exchanges, picking up a net of 2.1 million shares worth VND74.2 billion ($3.5 million). In HCM City, they accounted for over three quarters of the trading volume in shares of Vietinbank.Source: vnagency.com.vn
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