In the morning session on February 23, VN-Index recorded a strong increase of over 10 points, reaching nearly 1,238 points, while the index of the Hanoi Stock Exchange increased slightly. In the early afternoon, VN-Index continued to rise to 1,240 points, up more than 13 points. The main reason comes from the banking stocks group, in which many stocks increased strongly such as BID, TCB, ACB, CTG…
Not a few stocks have reached their highest points in the past 5 years, such as the price of BID reaching 52,500 VND / share, ACB 28,100 VND / share; HDB 22,900 VND / share. Many other stocks have increased by 20-30% in a few months, bringing attractive profits for investors.
The stock market sharply increased this morning with the attraction of money flowing into the banking stock group
It is worth noting that banking stocks have continuously “made waves” while many other stocks in different industries have consolidated or slightly increased. Continuous increase of banking stock has contributed to the upward trend of VN-Index from 1,100 points to the current level of over 1,230 points. Despite many warnings that banking stocks are “overheating” and may reverse, money is still flowing strongly into this group of stocks. Not a few investors who have remained on the sidelines – not buying banking stocks in the past time – expressed regret for missing the wave…
In an exchange with Journalist of Nguoi Lao Dong Newspaper, Mr. Truong Hien Phuong, a senior executive of KIS Vietnam Securities Company, analyzed that the continuous increase in banking stock prices is due to the strong buying by foreign investors. Some other financial institutions have started to tend to disburse into the stock market. Normally, foreign institutions and funds will choose banking stocks in their portfolios because their investment strategy prioritizes safe stocks with high liquidity due to their large disbursement amount.
BID shares of BIDV Bank are at their highest level in the past 5 years
“At this time, large domestic investors with “smart money”, good sensitivity to information, see that banking stocks are being hunted by foreign funds, they also buy to follow in the footsteps of the “sharks”. Even individual investors, short-term investors who “surf” the market also see the increasing demand for banking stocks, so they take advantage of short-term opportunities to buy. The above factors make the demand for banking stocks increase dramatically, while supply is limited due to high prices, so many investors are not in a hurry to sell” – Mr. Truong Hien Phuong analyzed.
