Vietnam Daily Market Recap July 24, 2024 – ACB, NLG & QNS Earnings Flash

Market Commentary: Stocks recover from recent slump 

The VN-Index opened lower on Wednesday, hitting a low of 1,218.65 in the morning session. However, in the afternoon, the market rebounded and closed with a gain of 0.5%, or 6.7 points, to 1,238.47. The index had dropped 4.8% over the previous two weeks. The HNX Index also increased by 0.7% to 236.17.

Nearly every sector was in the green today except Retail (-1.1%), Travel (-1.0%), Insurance (-0.5%) and Financial services (-0.01%). The Chemicals sector (+4.1%) gained the most today, followed by the Industrial goods & services (+2.1%) and Oil & Gas (+1.4%), led by GVR (+6.9%), ACV (+1.5%) and PLX (+2.2%).

GVR hit its ceiling price and stood out as one of today’s top performers thanks to impressive Q2 business results. GVR estimated revenue reached VND5.5tn (USD218mn) (+29% YoY) and BTP rose to VND1.1tn (USD43mn) (+27% YoY) in 2Q24. 

Foreign investors net bought today with a net trading value of VND325bn (USD13mn), focusing on VNM (VND81bn, USD3.2mn), HPG (VND65bn, USD2.6mn) and BID (VND45bn, USD1.8mn). On the contrary, DGC (VND116bn, USD6.5mn), MWG (VND90bn, USD3.5mn) and SSI (VND88bn, USD3.5mn) were mainly sold.

Other top performers today included SSB (+2.3%), VJC (+1.8%) and CTR (+7.0%). Conversely, top laggards included HVN (-4.2%), MWG (-1.8%), SSI (-2.8%), LPB (-1.7%) and CTG (-1.5%).

Read our full report: HERE