Vietnam Daily Market Recap July 26, 2024 – PVS Earnings Flash

Market Commentary:  Market closes week on positive note

The VN-Index popped higher at the opening, and maintained upward momentum throughout the trading session on Friday, closing up 0.7%, or 8.92 points, to 1,242.1. At the same time, market liquidity grew 21% DoD to VND11.8tn (USD466mn), reflecting the improving sentiment of investors. The HNX Index also rose 0.6% to 236.66 points.

Almost all sectors gained today, except Media (-0.9%). Technology (+2.4%) was the best performing sector, led by CMG (+5.8%), FPT (+2.4%) and VNZ (+2.0%). Oil & Gas (+2.3%) also stood out, led by BSR (+1.4%), PLX (+3.1%), and PVS (+2%).

CMG (+5.8%) almost hit its ceiling price today after the announcement of the approval of the Data Centre Hyper Scale at High-Tech Park, Thu Duc City, Ho Chi Minh City. This project will feature an investment of VND7.6tn (USD300mn).

TV2 (+5.2%) surged after announcing its 2Q24 business results. 1H24 revenue increased 123% YoY to VND601bn (USD23.7mn) and net profit rose 5.7% YoY to VND23.8bn (USD900,000).

BCM (+4.9%) rose today, marking three consecutive days of gains. BCM has increased sharply in recent times after the Prime Minister issued a Decision approving the reduction of state capital at Becamex IDC from 95.44% to 65% by the end of 2025.

Foreign investors net bought today with a net trading value of VND379.3bn (USD13mn), focusing on KDC (VND466bn, USD18.4mn), VCB (VND107bn, USD4.2mn) and BID (VND70.8bn, USD2.8mn). On the contrary, DGC (VND86bn, USD3.4mn), MWG (VND84.5bn, USD3.2mn) and SSI (VND73.4bn, USD2.9mn) were mainly sold.

Other top performers today included FPT (+2.4%), MSN (+4.2%) and BCM (+4.9%). Conversely, top laggards included LPB (-3.3%), VRE (-2.0%), NVL (-2.2%), FRT (-1.7%) and VGC (-1.1%).

Read our full report: HERE