Daily Market Recap November 8, 2024 – DPM Analyst Note

Stocks pull back, led by banks, real estate

The VN-Index popped higher at the open on Friday and peaked in the first half hour of trading before sliding into negative territory into the afternoon, closing down 0.6% at 1,252.56 points. Total trading value increased 12.1% compared to Thursday to VND13.9tn (USD548mn). Meanwhile, the HNX-Index declined 0.3%, closing at 226.88.

The VN-Index fell 0.2% for the week, while total trading value continued its downward trend, decreasing by 10.3% compared to last week with a daily average of VND13.5tn (USD531mn). Positive sentiment regarding the decisive results of the US presidential election was not enough to offset the impact of a soaring US dollar as the DXY broke through 105 on Thursday and closed the week at 104.5.

Sectors that fell today included Real Estate (-1.4%), Banks (-0.9%), Chemicals (-0.8%), Retail (-0.6%), and Food & Beverage (-0.6%). In contrast, Travel & Leisure (+3.0%), Industrial Goods & Services (+2.0%), Insurance (+1.4%), Technology (+0.6%), and Utilities (+0.6%) rose.

Telecommunications (+5.3%) was the top performing sector today, led by Viettel stocks, including VTP (+6.5%), CTR (+2.4%), VGI (+7.4%), and VTK (+13.4%), which maintaining their upward momentum due to the approval of the investment policy of the Viettel Logistics Park Project on November 5.

HVN (+6.7%) reached its intraday ceiling price but failed to maintain it through the ATC session. HVN’s upward momentum followed Vietnam Airlines’ announcement of improved business results. HVN’s revenue for 9M24 rose by 17.4% YoY to VND79.9tn (USD3.2bn).

Foreign investors net sold today VND1.2tn (USD47.5mn), focusing on VHM with VND166.5bn (USD6.6mn), MSN with VND143bn (USD5.6mn), and MWG with VND112bn (USD4.4mn). In contrast, buying momentum was on CMG with VND193bn (USD7.6mn), HPG with VND127bn (USD5.0mn), and another HPG transaction with VND85bn (USD3.4mn).

Top performers today included HVN (+6.7%), FPT (+0.5%), BVH (2.9%), and VTP (+6.5%). Top laggards included VHM (-3.4%), VCB (-1.1%), CTG (-1.7%), and VIC (-1.6%).

Read the full report: HERE