6PM Call: Flash Recovery - Update on HDB
Last week correction effect tended to prolong until this morning session. After about 1 hours trading in the red, the VNIndex recovered and moved up for the rest of the day. Bottom fishers began with banking shares. VCB, BID, CTG, and VPB etc. bounced off very quickly. STB even went to the ceiling. Latest news informing that STB has successfully written off VND19,000 billion NPL and targets to bring down the NPL ration to 3% in 2018 really supported the stock price. HDB continued to attract foreign investors. They net bought nearly VND506 billion worth of shares of HDB. However, share price only went up VND100/share.
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