Sacombank Makes a Surprise Rally

Much to the surprise of many, Sacombank (STB) rose limit up to close at VND72,000 at the Ho Chi Minh Stock Exchange on Friday as the VN-Index climbed 8.39 points to 1,097.07.

At the Hanoi bourse, the HASTC-Index also decided to rally and went up 11.98 points to 376.83.

Sacombank was not alone in the popularity stakes. Vietnam Petroleum Transport (VIP) went limit up to close at VND69,500, Vincom (VIC) added VND8,000 to do likewise, Vinh Son Hydro Power (VHS) put on VND2,000 and Pha Lai Thermal Power (PPC) increased VND1,000.

Newcomers like Thanh Cong Textile and Garment (TCM), Can Tho Agricultural Materials and Techniques (TSC) and Vung Tau Housing Development (HDC) also performed well. TCM rose VND3,000, TSC added VND3,500 and HDC climbed VND6,000.

In Hanoi, ACB shares dipped at first then did an about face and soared as the buy orders came flooding in.

By Tuong Chau - Translated by Phuong Lan

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