1. Financial market News

VN-Index stays in the green for sixth straight session

Vietnam’s benchmark VN-Index closed in the green for the sixth consecutive session Wednesday (26 May), rising 0.62 percent to 1,316.7 points. The index dipped into the red in the first 15 minutes of trading to 1,304 points, but bounced back and rose for the rest of the session to close with a gain of over eight points. The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, saw 166 stocks gain and 244 lose, with transaction volume growing 2 percent to VND21.69 trillion ($940.3 million). For the first time since May 11, foreigners turned net buyers to the tune of VND114.46 billion, with strongest buying pressure on PLX of fuel distributor Petrolimex, VHM of real estate giant Vinhomes, and VRE of mall operator Vincom Retail. The VN30 basket, comprising the index’s 30 largest capped stocks, saw 16 tickers gain and 12 lose, with three lenders leading the blue-chip gains.

Detailed information here.

2. Banking news

HDBank to pay 25 per cent dividend in shares, Moody’s raises credit rating outlook

The HCM City Development Joint Stock Commercial Bank (HDBank) has announced plans to increase its charter capital to more than VND20.273 trillion (US$879.48 million) by paying dividends for 2020 in shares and an employee stock option plan.

According to information published by the Ho Chi Minh Stock Exchange on June 4, the HDBank board of directors approved the plan to hike the charter capital in 2021 as approved at the bank’s annual general meeting in April.

Detailed information here.