Vietnam Daily Market Recap August 27, 2024 – PTB Update

Market Commentary: Stocks close flat, bolstered by VIC

The VN-Index fluctuated between negative and positive territory in the morning before dropping as much as 0.4% in early afternoon. However, the market rallied into the close to end the session flat, up 0.04%, or 0.5 points, to 1280.6. Once again though, gains were not widely dispersed across the index. 169 tickers gained while 235 fell. The HNX also closed flat at 238.9 (-0.03%).
Real estate (+1.7%), F&B (+0.2%) and Technology (+0.7%) were in green, led by VIC (+7.0%), VHM (+2.2%), MSN (+0.8%) and FPT (+0.8%). In contrast, Banks (-0.3%), Financial services (-1.0%) and Utilities (-0.5%) dropped, including BID (-1.2%), VCB (-0.5%), SSI (-1.6%), and GAS (-0.8%).
VIC hit its price ceiling today and added 2.8 points to the VN-Index after Vinpearl JSC, a member of Vingroup, successfully issued international bonds worth USD150mn with a term of five years.
FPT subsidiary FPT Software and Japanese car manufacturer Subaru said they signed a memorandum of understanding (MoU) to establish a strategic partnership. FPT Software will help promote digital transformation and develop smart factories for Subaru, a move that reflects FPT’s position and reputation in the Japanese market.
Foreign investors net sold today with VND259bn (USD10.4mn). The selling momentum focused on TLG (VND177bn, USD7.1mn), HPG (VND84bn, USD3.4mn), and VPB (VND61bn, USD2.4mn). Foreigners net bought FPT (VND122bn, USD4.9mn), MWG (VND80bn, USD3.2mn), and VIC (VND64bn, USD2.6mn).
Top gainers today included VIC, VHM, and FPT, which contributed an aggregate 4.2 points to the VN-Index. On the contrary, top laggards included BID, VCB and GAS.

Read the full report: HERE