Sabeco leads rally on Friday trade after Gov’t announces to sell entire stake

Sabeco share climbed 4.9% to VND175,000 ($7.5) after the government announced to divest its entire remaining capital in the country’s largest brewer.

Large-cap stocks pulled the market up as the blue chip tracker VN30-Index rose by 0.54 percent to 789.87 points, according to data from exchange.

Eighteen of the 30 largest stocks by market capitalization and trading liquidity in the VN30-Index rose while seven decreased. Other five stocks remained unchanged.

Beside Sabeco shares, Vinhomes closed at VND77,800 ($3.3), up 1.2%. Vinamilk share increased 1%. HDBank share jumped 5.3% to VND26,000 ($1.1) apiece. Shares other lenders including BIDV, Techcombank, Vietcombank, and Eximbank ended higher in the session.

On Friday trading session, there were 197 gaining, 167 losing, and 68 unchanged codes.

The index had lost 0.13 percent on Thursday to close at 842.38 points.

The State capital at Vietnam’s top brewer Saigon Beer Alcohol Beverage Corp will be soon transferred to the State Capital Investment Corporation by August 31 before having its 36 percent stake sold to investors.

Over 35,000 new accounts in June

The Vietnam’s stock market has proved a bright signal since the country successfully control the pandemic. Data from the Vietnam Securities Depository shows that local investors opened 35,046 new accounts in June.

This is the 4th consecutive month the market recorded a number of new accounts at over 30,000. In the past 4 months, domestic investors opened 137,753 new accounts. This figure is equivalent to 73% of the number of new open securities accounts in 2019.

As of end-June, the number of securities accounts in Vietnam reached 2.54 million, equivalent to 2.6% of Vietnam's population.

► Government plans to sell 36% remaining holding stake in Sabeco