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Shares of Sacombank (STB) surged ahead of the upcoming shareholders meeting after the bank submitted additional materials to the agenda, including the withdrawal of a proposal to extend its restructuring. Nguyen Duc Thuy, also known as “Bau Thuy,” was officially nominated to join Sacombank’s board.
On April 21, trading ended with the VN-Index reversing after a morning rally. The index briefly moved above 1,860 but failed to hold gains, closing down more than 3 points at 1,833. The session started with a positive tone, led by a small group of large-cap stocks, before broad selling emerged in the afternoon.
In the first half of the session, momentum was concentrated in the so-called Vin group. VIC and VHM rose 4–6%, contributing more than 20 points and lifting the index rapidly within just over an hour. However, the market also showed a “green on the surface, red inside” pattern, with decliners outnumbering gainers, suggesting gains were not broadly distributed.
As the index approached resistance, profit-taking pressure increased. Several stocks reversed, including blue chips: VIC trimmed gains to around 1.4% and VHM rose only 0.5%. With support weakening, the VN-Index turned around quickly in the late session.
Liquidity stayed elevated at above 24.6–25 trillion dong. Foreign investors continued to net-sell, with selling exceeding 427 billion dong, adding pressure on market sentiment.
STB attracted notable attention on April 21. The stock reached the ceiling at 68,600 dong after Sacombank updated its AGM materials, reflecting expectations around Thuy’s potential board entry. However, selling pressure near the close cooled the move. STB still finished up about 5.5% at 67,700 dong, remaining the strongest gainer among banks.
The Sacombank shareholders meeting is scheduled for April 22 in Phu Tho. The agenda is expected to include approval of key items such as withdrawing the request to extend the restructuring and approving the bank’s restructuring plan following the merger. The bank also submitted a document proposing a name change to Saigon Tai Loc Bank.
Outside STB, the banking sector showed mixed performance. Some stocks such as LPB, EIB, and TCB remained in positive territory, while large-cap names including VCB, VPB, SHB, and MBB declined. The securities sector faced broad selling pressure, with many stocks down more than 2%.
In real estate, most prices were red. VIC and VHM were among the few that advanced, alongside select names such as NVL and SJS. Industrial real estate declined sharply, including KBC, BCM, IDC, and VGC.
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