HANOI: Vietnam's benchmark VN Index was up 0.97 percent at the break on Thursday, led by some banks that rebounded from strong falls in the previous session.
Hanoi-based Vietcombank, Vietnam's top lender by market value, jumped 4.53 percent, having lost a combined 11.5 percent in the previous five sessions, while VietinBank bounced back 4.32 percent.
Trade has been subdued this week as investors stayed on the sidelines to observe the effect of a central bank directive, which caps banks' loans for investments in shares at 5 percent of a bank's registered capital, to inflows into the market.
"The fundamentals of the market are still positive, and many investors are just looking for the right time to step in," said manager Nguyen The Minh of Viet Capital Securities.
Analysts said investors also reduced risk exposure ahead of Tet, the country's biggest festival to mark the Lunar New Year, during Feb 16-23 this year.
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