Vietnam Daily Market Recap October 30, 2024 – VPB, HAH, GMD, STB, MBB, PHR, QNS, PTB, OCB Earnings Flashes

Market commentary: Stocks pull back, led by telecom, real estate

The VN-Index opened higher in the first hour of trading on Wednesday but investors couldn’t maintain buying momentum and the index closed down -0.3% to 1,258.63. The HNX-Index rose 0.1% at 225.88.

Telecommunications (-1.2%), Financial Services (-0.8%), and Real Estate (-0.7%) negatively impacted the index, while Banks (+0.1%), Industrial Goods & Services (+0.2%), and Technology (+0.2%) closed slightly higher.

TCB (+1.1%) and STB (+2.2%) were the top contributors to the index today. TCB rose on news it has raised deposit interest rates, while STB reported a 3Q24 pre-tax profit of nearly VND2.7tn (USD107.3mn), up 32% YoY.

On the downside, VHM dropped by -3.7% today, impacting the index by 1.63 points, amid news that over 57 million treasury shares have been purchased out of 370 million registered to be sold. VCB (-0.3%) also contributed to the decline, taking 0.41 points from the index.

In the Consumer sector, MWG fell by -0.8% even though it reported 3Q24 profits exceeding VND800bn (USD31.2mn), surpassing the annual target. Meanwhile, MSN contributed to gains with a rise of 0.1% following its 3Q24 report, which highlighted that Masan achieved a profit of VND1.3tn (USD51mn) in the first nine months of 2024, reaching 130.8% of its annual goal.

Foreign investors net sold VND142bn (USD5.5mn) today. Selling momentum focused on MSN (VND90.4bn, USD3.5mn), STB (VND83.7bn, USD3.2mn) and VHM (VND71.6bn, USD2.8mn). Buying momentum focused on VPB (VND140.9bn, USD5.5mn), TCB (VND124.8bn, USD4.9mn) and FPT (VND108.9bn, USD4.3mn).

Top performers today included TCB (+1.1%), STB (+2.2%), BID (+0.3%) and HVN (+1.6%). Top laggards include VHM (-3.7%), VCB (-0.3%), VIC (-0.9%) and VNM (-1.0%).

Read the full report: HERE