VCSC Daily - Gas prices drop, NA passes 2013 budget and minimum wage hike

Market Commentary

12 Nov 2012

Gains on VNI broad, banks lift HNI. The VNI ticked up 1.9 points to close at 388.6 (+0.5%) while the HNI advanced to 52.5 (+1.8%). The gain on the southern index was broad with over half the stocks in the index advancing. The northern bourse was again led by gains in banking stocks ACB (+2%) and SHB (+6.1%). The rally in SHB stock follows an after-hour announcement on Friday that the bank had set aside large provisions to clean up its bad debts.

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