Vietnam Daily Market Recap December 17, 2024 – ETF Analyst note

Stocks sink, led by tech, O&G

The VN-Index opened higher on Tuesday but selling pressure intensified, causing the index to hover in negative territory for most of the session, and close down 0.2% at 1,261.7. Total trading value continued to contract, declining 5.5% compared to Monday to VND8.7tn (USD342.4mn). The HNX Index also closed down 0.1% to 226.9.

Technology (-1.1%), Oil & Gas (-0.6%) and Retail (-0.5%) led the market lower while Telecommunications (+0.7%), Basic Resources (+0.4%), and Healthcare (+0.3%) buoyed the index.

MBB (+0.2%) announced on December 16 that it had signed a partnership agreement with F88 Business Joint Stock Company to deliver comprehensive financial solutions. At the signing ceremony, an MBBank representative stated that customers can update their Citizen ID information at over 850 F88 transaction points nationwide, offering a more time-efficient and convenient alternative to traditional transaction locations. F88 not only provides an advantage with its nationwide network scale but also helps MB deliver services to customers more efficiently.

Top performers today included VHM (+0.8%), VTP (+2.5%), KDH (+1.2%) and EIB (+0.8%). Top laggards included FPT (-1.3%), VPB (-0.8%) and MWG (-1.2%).

Foreign investors net sold today with VND669.4bn (USD26.3mn), with selling momentum focused on FPT (VND311.8bn, USD12.3mn), MWG (VND80.2bn, USD3.2mn), and NLG (VND62.7bn, USD2.5mn) while foreigners mainly bought SIP (VND35.3bn, USD1.4mn), VHM (VND33.2bn, USD1.3mn), and HDB (VND31.9bn, USD1.3mn).

Read the full report: HERE