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Update news bank stocks
The stock market of Vietnam is bustling with banking and securities stocks as the backbone, as the potential of banking stocks is attracting the attention of foreign investors.
Bank tickers will remain in the spotlight, with investors racing to capitalise on bright profit prospects.
With average price-to-earnings (P/E) and price-to-book (P/B) ratios at a five-year low, bank stocks are among the good options available for investors right now, analysts said.
Vietnamese commercial banks are planning to sell a stake in their company to foreign investors to attract capital and hasten their restructuring before listing shares on the bourse.
Stocks on Wall Street rose Wednesday led by the energy sector as oil prices rallied and as financials gained on the increasing likelihood of an interest rate hike after strong economic data.