Vietnam Daily Market Recap December 27, 2024

Stocks advance, led by banks

The VN-Index opened higher on Friday and traded mostly in positive territory, closing up 0.2% at 1,275.1. Total trading value jumped 23% DoD to VND16.9tn (USD664.1mn). Meanwhile, the HNX-Index closed down 0.3% at 229.1.

TNH (+4.0%) held an extraordinary general meeting to announce plans to add a new member to its BOD. If approved, Romeo Fernandez Lledo will be the first foreign board member for TNH. Fernandez Lledo has a proven track record of advising healthcare corporations in Southeast Asia, and currently serves as an advisor to Borderless Healthcare Group in Singapore. Investors seem to be anticipating that TNH may be on the cusp of securing a new strategic foreign investor.

BAF (+6.2%) reached its all-time high today. On December 25, BAF completed the acquisition of nearly all shares of Tuyet Hoa Dak Lak, marking its eighth acquisition in the past two months. This rapid acquisition spree is part of BAF’s strategy to quickly expand its operations and capitalize on the benefits of the new Livestock Law, which we highlight in our latest update report of BAF.

LPB (+6.9%) hit its ceiling price. LPB may have the opportunity to be added to the VN30 Index, as the company meets most criteria and its market capitalization ranks among the top 20 compared to current VN30 constituents. In addition, today is the ex-dividend date for the stock dividend payment of 100:16.8.

Sectors that rose today included Banks (+0.9%), Food & Beverage (+0.4%) and Financial Services (+0.3%). Conversely, Real Estate (-0.4%), Industrial Goods & Services (-0.3%), Telecommunications (-3.4%), Basic Resources (-0.5%), Construction & Materials (-0.6%) and Chemicals (-0.3%) fell.

Foreign investors net bought VND615.4bn (USD24.2mn) today. Buying momentum focused on STB (VND164.8bn, USD6.5mn), CTG (VND125.4bn, USD4.9mn), SSI (VND82.7bn, USD3.2mn) and FPT (VND72.9bn, USD2.9mn). In contrast, they sold HPG (VND81.9bn, USD3.2mn) and VCB (VND68.0bn, USD2.6mn).

For the week, both the VN-Index (+1.4%) and HNX-Index (+0.9%) rose. The VN-Index’s total trading value increased 12.6% WoW to average VND15.5tn (USD609.1mn). Foreign investors switched from selling to buying this week with net buying value of VND269.1bn (USD10.6mn).

Read the full report: HERE