Wary of bank stocks
Cash flows have started to exhibit traces of a recent decrease in bank stocks.
Cash flows have started to exhibit traces of a recent decrease in bank stocks.
Bank stocks, known as 'king stocks', are likely to benefit from increased lending due to low interest rates, economic recovery, and other factors.
The breadth of the market was negative as the number of decliners surpassed that of gainers by 173 to 143.
The increase in asset quality is increasingly significant to the success of Vietnam commercial banks' share prices.
The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) ended the day at 1,052.8 points, a slight decline of 0.2 points or 0.02 per cent.
Bank profits are forecast to be the bright spot in the fourth quarter 2022 financial report season, which takes place after the Lunar New Year.
Although banking profits are expected to grow slower in Q4/2022 and in the first half of 2023, experts still have an optimistic outlook on bank stocks in the short term.
Bank stock prices gained 15-20% in July and August, reflecting expectations about business performance in 2H22 and the new credit room.
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Analysts of many foreign investment funds and local securities companies expect bank stocks will continue to record positive results in 2022.
Credit growth will be the main momentum for Vietnam's banking sector to get the best performance in 2022.
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Investors have voiced their hopes that a new economic stimulus package would give a boost to the domestic stock market.