Vietnam Daily Market Recap February 07, 2025

Stocks advance, led by banks

The VN-Index opened higher on Friday and mostly traded in positive territory, closing up 0.3% at 1,275.2 for a fourth day of gains. Total trading value reached VND14.7tn (USD581.4mn), indicating a 13.7% increase DoD. The HN-Index also rose 0.2% to 229.5.

Banks (+0.8%) led today’s rally, followed by Basic Resources (+1.1%), Insurance (+0.6%) and Healthcare (+0.7%). In contrast, Telecommunications (-1.2%), Oil & Gas (-0.3%) and Retail (-0.4%) retreated.
CII (+6.6%) hit its ceiling price. Thu Duc City announced yesterday it would auction the land use rights for 239ha under the Master Plan until 2040. CII is the investor behind Thu Thiem River Park, The Riverin, and the Thu Thiem Lake View projects, and is expected to benefit from this plan.

PC1 (+2.4%) performed well today and has risen 11% since bottoming out on January 13. There has been positive market sentiment in the mining sector recently, which may link to PC1’s nickel mining segment. Nickel prices have also increased over 5.0% in the past three trading days.

For the second day in a row, banks dominated the list of top contributors to the VN-Index, including CTG (+3.3%), BID (+1.8%), TCB (+2.2%), ACB (+0.8%) and MBB (+0.7%). The only non-bank in the list was GVR (+0.7%). At the same time though, VPB (-0.5%) joined the list of top laggards, which also included PNJ (-1.3%), VGC (-2.0%), BSR (-0.7%), FPT (-0.3%), GAS (-0.4%), BCM (-1.1%) and HPG (-0.6%).

Foreign investors net sold with net selling value of VND1.1tn (USD43.5mn). The most heavily sold stock was MSN (VND897.8bn, USD35.5mn), followed by MWG (VND96.4bn, USD3.7mn) and VCB (VND88.5bn, USD3.5mn). Conversely, they bought OCB (VND136bn, USD5.4mn), CTG (VND100bn, USD4.0mn), TCH (VND57bn, USD2.3mn) and FPT (VND54.2bn, USD2.1mn).

For the week, both the VN-Index (+1.8%) and HN-Index (+2.7%) rose. The VN-index’s total trading value jumped 19.1% to average VND14.0tn (USD553.7mn). Foreign investors net sold the whole week with total selling value of VND4.2tn (USD166.1mn) while they net bought in the week prior to the Tet holiday.

Read the full report: HERE