Vietnam Daily Market Recap November 27, 2024 – REE & VRE Updates, BSR & VFS Analyst Note

Market commentary: Stocks flat, as Banks lead gainers, Real Estate laggards

The VN-Index saw a slight increase in the morning session but failed to maintain momentum, slipping in the afternoon. By the close, the index had edged down 0.01% to 1,241.97. Liquidity remained low as trading value on HOSE surpassed VND11.4tn (USD448.6mn). A similar trend appeared in the HNX-Index, but heavy afternoon selling pressure pushed the index down 0.27% to 223.09.

Market cash flow concentrated in Banks (+0.1%) and Industrial Goods & Services (+0.8%), which contributed to the market’s gains. Conversely, Real Estate (-0.5%) and Utilities (-0.8%) weighed on the market.

Key gainers included FPT (+2.7%), VCB (+0.3%), LPB (+1.3%), and EIB (+2.2%), which made positive contributions to market sentiment. FPT (+2.7%) contributed 1.4 points to the VN-Index, far exceeding other stocks. Bolstered by foreign investor accumulation, FPT has emerged as a market leader amid widespread selling pressure. Positive developments for the company in recent days included announcements of infrastructure upgrades to boost eSports in Vietnam. These include deploying Wi-Fi 6 and Wi-Fi 7 technologies and offering attractive unlimited connectivity packages through its “3-in-1” Internet bundle, which combines high-speed broadband, free installation with Wi-Fi 6 routers, signal boosters (AP), and FPT-brand smart cameras.

On the downside, GAS (-0.4%), CTG (-0.4%), VIC (-0.7%), and VHM (-1.2%) pulled the VN-Index lower, with VHM (-1.2%) alone dragging the market down by 0.5 points. VHM (-1.2%) recently disclosed the results of its share buyback deal, the largest in history. Vinhomes recently repurchased nearly 247 million VHM shares, equivalent to 66.8% of the initial 370 million share target, achieving only about two-thirds of the plan.

Foreign investors maintained their net buying streak for a fourth consecutive session, with net buying value reaching VND354.7bn (USD14mn) today. Buying momentum focused on FPT, totaling VND686.4bn (USD27mn), far surpassing other net-bought stocks. Meanwhile, selling momentum centered on HPG with VND66.5bn (USD2.6mn), DCM with VND46.9bn (USD1.9mn), and VRE with VND42.5bn (USD1.7mn).

Top performers today included FPT (+2.7%), VCB (+0.3%), LPB (+1.3%), and EIB (+2.2%), while top laggards included GAS (-0.4%), CTG (-0.4%), VIC (-0.7%), and VHM (-1.2%).

Read the full report: HERE