Vietnam Daily Market Recap January 02, 2025 – VJC Analyst Note

Stock advance, led by industrials

In the first trading session of 2025, the VN-Index opened higher but reversed slightly lower during the morning session. However, buying momentum returned in the afternoon, driving the index to close up 0.2% at 1,269.7 points. Market liquidity showed no signs of improvement during this shortened holiday week, declining by 8% compared to the previous session, reaching VND8.8tn (USD345.7mn). The HNX-Index gained 0.1% to 227.7.
Sectors that had the most positive impact on the index included Industrial Goods & Services (+0.7%), Basic Resources (+0.4%), Telecommunications (+0.4%), Construction & Materials (+0.4%), Travel & Leisure (+1.0%) and Insurance (+1.0%). Conversely, Food & Beverage (-0.6%), Utilities (-0.4%) and Technology (-0.2%) dropped.
HNG (+14.8%) hit its ceiling price, climbing to VND7,000 per share, its highest level since late August 2022. The rally in HNG shares is attributed to the recent announcement that the company has completed the repayment of debt totaling VND4.3bn (USD168.9mn) as per an agreement between HAGL Agrico (HNG), BIDV Bank (BID), and Hoang Anh Gia Lai JSC (HAG). Accordingly, HAGL Agrico confirmed it has fully settled all outstanding debts under the agreement and no longer has any liabilities arising with Hoang Anh Gia Lai JSC. HAG and BID also posted gains of 2.1% and 1.7%, respectively.
VGC (+4.6%) surged as Viglacera Corporation – JSC recently approved a highly optimistic preliminary business plan for 2025. The company projects total revenue to exceed VND14.4tn (USD567.1mn), up 8% compared to the 2024 plan, and pre-tax profit to reach VND1.7tn (USD66.8mn), a 57% increase. For the parent company, VGC targets total revenue of VND5.6tn (USD219.2mn) and pre-tax profit of VND1.4tn (USD55mn) in 2025, representing growth of 13% and 29%, respectively, compared to the 2024 plan.
Foreign investors net sold VND98.6bn (USD3.87mn) today. Selling momentum focused on FPT (VND222.5bn, USD8.74mn), VCB (VND39.8bn, USD1.56mn), and CTG (VND29.1bn, USD1.14mn). In contrast, they bought HPG (VND51.9bn, USD2.04mn), MSN (VND46.2bn, USD1.81mn), and VGC (VND42.0bn, USD1.65mn).
Top gainers today included BID (+1.7%), VCB (+0.8%), and HPG (1.3%). In contrast, the top laggards were TCB (-1.2%), HDB (-1.8%), and EIB (-2.9%).

Read the full report: HERE