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Are Bank Stocks “Exhausted” After Leading the VN-Index Past the 1,300-Point Mark Last Week?
The banking sector has witnessed a stellar performance in the past week, with bank stocks surging ahead. Despite this recent rally, the industry's valuation remains attractive for long-term investors. With a current price-to-book (P/B) ratio of 1.37x, the sector is trading below its five-year average of 1.73x, presenting a compelling opportunity for those seeking sustainable returns.
Asean Pushes for Swift Conclusion to ATIGA Upgrade Negotiations
After 14 official negotiation sessions, ASEAN countries have now completed nearly 98% of the negotiation process to upgrade the ATIGA Agreement.
Market Beat: Foreigners Resume Net Selling, VN-Index Halts Rally
The market closed with the VN-Index down 11.81 points (-0.9%), settling at 1,301.39. The HNX-Index also witnessed a decline of 0.59 points (-0.27%), ending the day at 218.69. The market breadth tilted towards decliners, with 444 stocks falling against 332 advancing stocks. Within the VN30 basket, bears dominated as 24 stocks dropped, while only 4 rose, and 2 remained unchanged.
