Vietnam Daily Market Recap January 14, 2025 – KBC Analyst Notes

Stocks slide, led by banks

The VN-Index opened lower on Tuesday and continued downward for the entire session, closing down 0.5% at 1,229.1, wiping out the previous day’s gains. Total trading value dropped by 23% to VND7.1tn (USD279.7mn). Similarly, the HNX-Index also closed down 0.6% at 218.3.

Most sectors slumped today, led by Banks (-0.7%), Real estate (-0.5%), Food & Beverage (-1.0%) and Industrial Goods & Services (-1.3%). In contrast, sectors that gained today included only Oil & Gas (+1.2%), Insurance (+0.9%) and Retail (+0.1%).

KBC (+2.5%) rose today on news that the investment plan for the TD3 project was approved by the Government (see our Analyst Note).

MFS (+14.9%) hit its ceiling price today, extending its rally from the previous session following positive news about MobiFone over the weekend. According to the Government Steering Committee’s report on restructuring and streamlining administrative organizations, the Ministry of Home Affairs has proposed transferring MobiFone Telecommunications Corporation to the Ministry of Public Security for management. Previously, MobiFone was under the State Capital Management Committee’s supervision. The transfer to the Ministry of Public Security is expected to bring exclusive advantages to MobiFone, granting it stronger government support for key projects, particularly those involving national security and strategic telecommunications infrastructure. Additionally, MobiFone is likely to receive priority access to national initiatives related to information technology, citizen database systems, and digitalization solutions for public security and administrative sectors.

Foreign investors net sold today (VND629bn, USD24.8mn). Selling momentum focused on FPT (VND189bn, USD7.5mn), VPB (VND59.2bn, USD2.3mn), and MSN (VND42.8bn, USD1.7mn). In contrast, their buying activities focused on VGC (VND29.1bn, USD1.2mn) and FRT (VND18.5bn, USD730,000).

Top gainers today included GAS (+0.8%), PLX (+2.2%), BVH (+2.6%), and VGC (+2.5%). Top laggards included CTG (-2.0%), FPT (-1.7%), and BID (-0.8%).

Read the full report: HERE