The results of 2020 business and 2021 outlook support the rise of bank stocks Ending the last session of February, the VN-Index stood at 1,168.47 points, corresponding to an increase of 111.86 points (10.59 per cent) compared to the previous month. The HNX-Index increased by 35.01 points (16.3 per cent) to 249.22 points. The UPCoM-Index also increased 4.56 points (6.33 per cent) to 76.64 points. Large-cap stocks recovered well in February as only the NVL ticker of Novaland decreased by 0.7 per cent. Meanwhile, as many as 14 other stocks in this group increased by over 15 per cent. The shares of VPBank (VPB), rose the most among the top 30 by market capitalisation with over 33 per cent. Following that, Thaiholdings (THD) also increased by 26 per cent and was a key factor helping the HNX-Index continue to break out recently. February was also a good month for banking stocks as, besides VPB, the stocks of Vietnam International Commercial Joint Stock Bank (VIB), Asia Bank (ACB), Techcombank (TCB), or Vietinbank (CTG) also increased by over 20 per cent. Particularly, the last trading week of February recorded a rise in most bank stocks. At the price of VND33,000 ($1.44), Asia Commercial Bank (ACB) was the strongest increase with… Read full this story
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