Vietnam Daily Market Recap January 3, 2025

Stocks sink as USD rises

The VN-Index opened lower on Friday and never recovered, closing down 1.2% at 1,254.6, as investors reacted to the DXY surging past 109 and VND hovering near a record low (see our macro note below). Total trading value jumped 27.9% to VND13.7tn (USD538.6mn). The HNX-Index also declined 0.9% to 225.7.

Most sectors were painted red today, led by Banks (-1.4%), Financial Services (-2.3%), Food & Beverages (-1.6%) and Industrial Goods & Services (-2.1%). Automobiles & Parts (+0.8%) is the only sector that rose, driven by VEA (+1.3%) and TMT (+6.7%).

Foreign investors demonstrated their concerns on the FX movements and net sold VND759.7bn (USD29.9mn) today, marking the heaviest net selling day in two weeks. Alongside FPT (VND231bn, USD9.1mn), banks led the net selling momentum, including CTG (VND107.7bn, USD4.2mn), TCB (VND78.2bn, USD3.1mn) and HDB (VND52.1bn, USD2.0mn).

Both the VN-Index (-1.4%) and the HNX-Index (-1.9%) declined sharply this week. VN-Index’s total trading value shrank 23.3% WoW to average VND11.9tn (USD468mn) during the New Year’s holiday-shortened trading week. Foreign investors switched from buying to selling this week with net selling value of VND495bn (USD19.5mn).

Top market laggards included TCB (-3.1%), CTG (-2.4%), FPT (-2.0%), VPB (-2.1%) and MWG (-3.3%). Top market outperformers were VCB (+0.1%), CTR (+3.2%), PLX (+0.8%), NVL (+1.4%) and YEG (+6.8%).

Read the full report: HERE