Bank stocks plummet after overnight financial report release on January 31st.

The banking stock group, which has been leading the market in the first weeks of the year, experienced a collective downturn today.

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On the evening of January 30, 27 banks listed on UPCoM and HoSE (Hanoi Stock Exchange) have completed the announcement of their financial statements for the fourth quarter of 2023. The business results were quite varied.

According to statistics, only 13 banks recorded positive profit growth over the past year. Many banks did not meet their business plans which were approved by the Annual General Meeting of Shareholders.

In the trading session on January 31, banking stocks plunged with 21 out of 27 stocks closing in the red. Among them, many large market capitalization stocks “evaporated” significantly.

SHB was the biggest decliner in the banking group today, dropping 5.69%, closing at VND 11,600/share. During the trading session, this stock experienced a 6.5% drop at one point. SHB’s liquidity increased dramatically with over 127 million shares matched, valued at over VND 1,500 billion, the highest level to date. However, foreign investors still net bought over 2 million SHB shares today.

The next major decliners were EIB of Eximbank (-3.1%), OCB (-2.94%), VCB of Vietcombank (-2.75%),…

VCB stocks were in the red from the opening until the closing bell and were the most negative impact on the VNIndex. In addition, many large market capitalization stocks also declined such as CTG of VietinBank (-1.86%), TCB of Techcombank (-1.85%), MBB (-1.58%), BID of BIDV (-1.55%),…

Among the top 10 stocks with the most negative impact on the VNIndex today, there were up to 6 banking stocks. The VNIndex decreased by 15.34 points (-1.3%) to 1,164.31 points.

The only two banking stocks that closed in the green today were VAB of VietABank (+1.37%) and NAB of NamABank (+0.64%). In addition, there were 4 stocks that closed at the reference price, which were ABB, BAB, KLB, VBB.

The total trading value of the industry increased sharply, reaching over VND 5,700 billion. Not only SHB’s liquidity increased significantly, but many other stocks such as STB, MBB, VPB, EIB,… also increased strongly.

Regarding the activity of foreign investors, they net bought some banking stocks such as VPB (VND 7 billion), SHB (VND 2.4 billion), HDB (VND 900 million), VAB (VND 300 million),…

Banking stocks in the red on January 31, 2024