Vietnam Daily Market Recap February 06, 2025 – PC1, SSI Earnings Flashes

Stocks creep higher, led by banks

The VN-Index popped higher on Thursday and closed up 0.2% to 1.271,5. Market liquidity also improved, with total trading value rising 3.4% compared to Wednesday to VND11.5tn (USD457.2mn). The HNX Index followed a similar pattern, posting a gain of 0.5% to close at 229.1.

Sectors that gained today included Basic Resources (+2.3%), Insurance (+1.7%), Health Care (+1.1%), and Banks (+0.6%). In contrast, sectors such as Retail (-0.5%), Chemicals (-0.3%) and Oil & Gas (-0.3%) declined.

CTD (+2.5%) reported revenue rose 19% YoY to VND11.65tn (USD463mn) in fiscal 1H25, while net profit jumped 46.7% YoY to VND199bn (USD7.9mn). Coteccons recorded its first quarterly net profit of over VND100bn (USD4mn) since 2Q20.

TCB (+2.0%) announced its intention to seek shareholder approval for the establishment of a life insurance company and the acquisition of a non-life insurance company to make it a subsidiary. As a result, TCB will increase its ownership in the non-life insurance company from 20% to over 50% and will develop its own life insurance segment after ending its partnership with Manulife.

Nearly all of today’s top performers were banks as TCB (+2.0%) led the charge by adding 0.8 points to the index. Other top contributors were LPB (+1.7%), VCB (+0.3%), VIC (+1.0%), BID (+0.5%) and HDB (+1.6%). Top laggards included VNM (-1.3%), FRT (-4.9%) and BCM (-1.4%).

Foreign investors net sold today with VND351.1bn (USD14.0mn), with selling momentum focused on VNM (VND73.7bn, USD2.9mn), FRT (VND59.5bn, USD2.4mn), and MWG (VND41.1bn, USD1.6mn), while foreigners mainly bought CTG (VND62.1bn, USD2.5mn), PC1 (VND46.1bn, USD1.8mn), and PDR (VND29.0bn, USD1.2mn).

Read the full report: HERE