1. Financial market News

VN-Index rebounds after profit-taking session

The VN-Index soared 1.46 percent to 1,045 points Friday, with buying pressure on blue chips propping the market up after a single losing session. Although investors had rushed to sell off stocks in the previous session, causing the benchmark index to fall 0.79 percent, buying pressure on the market’s largest caps seem to have revived demand, helping the VN-Index stay green for the whole trading day. The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, was a sea of green with 313 stocks gaining and 124 losing, of which 12 hit their ceiling prices. Total trading volume fell over 15 percent compared to the previous session, to VND10.56 trillion ($457.99 million), of which just under half went towards the VN30, a basket of the HoSE’s 30 largest caps. The VN30-Index this session climbed 1.45 percent, with 24 of its tickers gaining and only three losing.

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2. Banking news

The banking sector ranks highly on the list of Vietnamese stocks

In the past month, banking stocks had recorded an increase of 11.5 percent and ranking the sixth highest growth sector, surpassing the VN Index and VN30. Since the beginning of the year, many bank shares had exceeded expectations. Notably, SHB, shares of Saigon Hanoi Commercial Joint Stock Bank had increased by over 200%, bringing the stock market price to over 17,000 dong per share after a long time below par value. Together with Asia Commercial Joint Stock Bank (ACB), SHB also moved to change the stock exchange from Hanoi Stock Exchange (HNX) to Hochiminh Stock Exchange (HOSE).

Detailed information here.

3. International finance News

PayPal-backed fintech start-up Tink valued at more than $800 million after fresh funding

LONDON — A new movement in finance that calls on big banks to share their coveted customer data with younger technology rivals has gained significant momentum in 2020.

Detailed information here.