Vietnam Daily Market Recap August 30, 2024 – BMP Update

Market Commentary: August ends on quiet note ahead of long holiday weekend

The VN-Index ended the week on a positive note, closing up 0.2%, or 2.40 points, to 1,283.87. It was the first day this week that rising tickers outnumbered falling as 202 VN-Index tickers rose while 108 declined. Total trading value was 3.6% lower than yesterday at VND13.5tn (USD560mn). The HNX-Index declined 0.1%, closing at 237.56. Markets in Vietnam will be closed Monday, September 2 and Tuesday, September 3 for the National Day holiday. Markets reopen on Wednesday, September 4.

For the week, the VN-Index fell 0.1% (-1.45 points) and the average trading value was 11.8% lower than the previous week (VND78.4tn/USD3.3bn). For the month, the VN-Index rose 2.6%, and the monthly average trading value was equivalent to the previous month (VND365tn/USD15.2bn).

The VN-Index has gained 13.8% YTD, outperformed China (Shanghai Index, -4.5% YTD) and ASEAN markets including Indonesia (+5.5% YTD), Singapore (+4.5% YTD), the Philippines (+9.3% YTD) and Thailand (-4% YTD).

Industrial Goods & Services (+104% YTD), Oil & Gas (+47.4% YTD), Chemicals (+42.5% YTD), Retail (+40.1% YTD) and Technology (+48.0% YTD) were the sectors with the largest gains from the beginning of the year.

Stocks that have outperformed the index since the beginning of the year include HVN (+71.4% YTD), FPT (+69.8% YTD), GVR (+66.8% YTD), MWG (+63.1% YTD), SAV (+59.1% YTD), HTG (+38.7% YTD), FTS (+38.2% YTD), CTG (+36.9% YTD), MBB (+36.2% YTD), MSH (+35.7% YTD), VTP (+33.6% YTD), DPR (+33.5% YTD), HCM (+22.3% YTD) and VHC (+22.4% YTD).

Foreign investors net bought today with VND66bn (USD2.8mn). From the beginning of the year, foreign investors have net sold VND58.8tn (USD2.4bn), focusing on VHM (VND15.2tn/USD633mn), FPR (VND6.3tn/USD263mn), VRE, MSN, VNM and VIC. MWG was net bought the most with VND1.8tn (USD75mn).

Read the full report: HERE