Vietnam Daily Market Recap September 16, 2024 – BAF Analyst note & VHM Update

Stocks extend skid, led by tech, telecom

The VN-Index extended its recent losing streak on Monday, closing down 1.0%, or 12.45 points, to end at 1,239.26. The index has fallen seven of the last nine trading days for a 3.4% decline. 82 stocks gained while 231 declined. The HNX-Index also dropped 1.58 points (-0.7%) to close at 230.84.

Most sectors slid, led by Technology (-1.9%), Telecommunications (-1.8%), Utilities (-1.7%), Real Estate (-1.5%), and Financial services (-1.4%).

The fall in the Technology sector was led by VNZ (-15%), FPT (-1.4%), and CMG (-1.4%). On the bright side, BMP (+2.9%) continued to gain, thanks to PVC resin input prices dropping since April, a trend that is anticipated to persist and continue to boost its gross profit margin.

Foreign investors net bought today, achieving a net value of VND251bn (USD10.1mn), with buying momentum focused on TCB (VND69.9bn, USD2.8mn), NAB (VND53.9bn, USD2.2mn) and FPT (VND53.1bn, USD2.2mn). On the other hand, HSG was the most net sold at VND43.2bn (USD1.7mn) followed by MWG (VND40.9bn, USD1.65mn).

Top performers included AGM (+6.7%), NAB (+6.1%), SGR (+5.6%), and D2D (+5.3%) while top laggards were SMC (-7.0%), KPF (-6.2%), PTL (-6.2%), and PVP (-6.1%).

Read the full report: HERE