VCSC Daily - Markets pull back, foreigners buy bank stocks
  • 2012-07-16T00:00:00
  • Market Commentary
SBV formalises request to lower lending rates. After last Friday’s strong rally, both indices pulled back to start the week. Over the weekend, the SBV issued Document 198, formalising Mr. Binh’s request to commercial banks to lower lending rates on existing loans to below 15%. Yet concerns of lower earnings did not scare off investors from the banking stocks.