Vietnam Daily Market Recap October 11, 2024 – CTD & MBB Update.

Market commentary: Stocks extend winning streak, led by real estate, industrials

The VN-Index opened higher on Friday before slumping into negative territory in the afternoon and finally rallying to close up 0.2% to 1,288.39 for a fourth straight day of gains. Liquidity plunged 30.4% from yesterday to VND11.9tn (USD480mn). The HNX-Index increased 0.03% to close at 231.37.

For the week, the VN-Index gained 1.4% (+12.8 points) while total trading value dropped 17.8% (VND16.6tn/USD669.1mn) compared to the previous week.

Stocks were led higher today by Industrial Goods and Services (+2.8%), Real Estate (+1.2%) and Financial Services (+0.6%). On the other hand, Banks (-0.2%), Utilities (-0.4%) and Technology (-1.3%) negatively impacted the index.

The Real Estate sector was the main support for the market today, led by stocks within the Vingroup ecosystem including VHM (+3.4%), VIC (+1.0%), and VRE (+3.0%). VRE plans to open an additional shopping mall (TTTM) in Quang Tri province in 4Q24, with a leasing floor area of 14,265 square meters. The opening of this new mall will increase VRE’s total commercial floor area from 1.747 million square meters to 1.84 million square meters by the end of this year.

HCM (+2.6%) surged after the company announced that it will hold an extraordinary general meeting of shareholders (EGM) online on December 4. The record date for the list of shareholders eligible to attend is October 30. The meeting will cover a plan to issue shares to existing shareholders and other matters under the authority of the EGM.

Foreign investors net sold today with VND319bn (USD12.8mn). Selling momentum focused on VHM (VND216.2bn, USD8.7mn), FPT (VND94.9bn, USD3.8mn) and SSI (VND81.0bn, USD3.3mn), while foreigners mainly bought MSN (VND177.1bn, USD7.1mn), TCB (VND62.0bn, USD2.5mn), and EIB (VND47.4bn, USD1.9mn).

Top performers today were VHM (+3.4%), VJC (+2.7%) and MSN (+1.4%) while top laggards were FPT (-1.5%), VCB (-0.4%) and BID (-0.7%).

Read the full report: HERE