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Vietnam Daily Market Recap January 24, 2025 – KDH, NLG, TCM, DGC, VRE Earnings

Daily Market Recap 24/01/2025    184

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Stocks advance, led by utilities

Investors sent stocks higher on the last trading day before the Lunar New Year break as the VN-Index rose 0.4% to 1,265.1. Total trading value declined 7.8% DoD to VND12.2tn (USD519.2mn). The HNX-Index also rose, closing up 0.2% at 223.

Sectors that advanced included Banks (+0.4%), Real Estate (+0.4%), Food & Beverage (+0.9%) and Utilities (+1.1%). In contrast, Basic Resources (-1.1%), Technology (-0.6%) and Oil & Gas (-0.7%) fell.

GEX (+6.9%) said today that its 4Q24 net revenue reached VND10.1tn (USD430.3mn), an increase of 25.1% YoY, marking the highest quarterly revenue in its history. For the full year 2024, net revenue reached VND33.8tn (USD1.4bn), and pre-tax profit reached VND3.6tn (USD153.4mn), up 12.5% and 158.6% YoY, respectively. The company exceeded its annual targets by 4.5% and 88.2%, respectively.

Similarly, FRT (+3.8%) also reported business results exceeding its targets. FRT’s net revenue rose 26% YoY, and pre-tax profit reached VND527bn (USD22.4mn) from a loss in 2023, achieving 108% and 442% of its respective planned targets. This growth was primarily driven by the FPT Long Châu chain, which recorded a 59% YoY increase in revenue, reaching VND25.3tn (USD1.1bn) and accounting for 63% of FPT Retail’s total revenue.

Foreign investors net bought today (VND632.9bn, USD25.2mn). The most bought stock was LPB (VND235.6bn, USD9.4mn). Since LPB will officially be added to the VN30 Index on February 3, 2025, today is the final day for related ETFs to complete their portfolio restructuring. They also bought MSN (VND144.2bn, USD5.7mn), PC1 (VND70.2bn, USD2.8mn), GMD (VND52.9bn, USD2.1mn) and HDB (VND50.2bn, USD2.0mn). Conversely, they sold FPT (VND177.5bn, USD7.1mn) and FRT (VND54.6bn, USD2.2mn).

For the week, both the VN-Index (+1.3%) and HNX-Index (+0.2%) rose. Total trading value rose 7.9% to average VND11.8tn (USD470.6mn). Foreign investors switched from selling to buying with net buying value of VND118.5bn (USD4.7mn).

Read the full report: HERE