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VCSC Daily - Financials reverse after SBV comments on bank sector FOL - MWG

Stocks were in positive territory most of the session but couldn't break through technical resistance near a nine-year high of 688.89, and the VN-Index slid into a small loss at close. After surging yesterday on PM comments suggesting that FOL of banks could be lifted this year, financials (-1.4%) gave back some of those gains today as the SBV Governor said bank FOL increases will be decided on a case by case basis (see our note on these comments below). VCB (-1.7%), CTG (-2.0%), BID (-2.1%)