Vietnam Daily Market Recap January 16, 2025 – PC1 Update

Stocks rise, led by banks, telecoms

The VN-Index opened higher on Thursday, buoyed by positive momentum from the US stock market after encouraging US’ December CPI data. Although the market drifted lower in the afternoon, it still closed up 0.5% at 1,242.4. Total trading value continued to improve, rising 30.4% to reach VND13.3tn (USD524.6mn). The HNX also rose 0.6% at 220.8.

Most sectors gained today, with key contributors including Banks (+0.6%), Industrial Goods & Services (+1.1%), Telecommunications (+3.1%), Financial Services (+1.5%) and Basic Resources (+1.1%). In contrast, Food & Beverage (−0.3%) and Automobiles & Parts (−0.2%) dropped today.

VCB (+1.4%) surged, leading the banking sector, following positive news about its dividend payment plan. Specifically, Vietcombank’s Board of Directors approved the issuance of over 2.77 billion shares as stock dividends for shareholders at an issuance ratio of 49.5%. This move will raise VCB’s chartered capital from VND55.9tn (USD2.2bn) to VND83.6tn (USD3.3bn), the largest in the banking sector. This will also enhance VCB’s Tier 1 capital buffer, enabling it to meet the minimum CAR requirements and align with the Basel III implementation roadmap.

Foreign investors net sold today (VND3.1tn, USD122.2mn). Selling momentum focused on VIC (VND2.0tn, USD80.4mn), FPT (VND187.2bn, USD7.4mn), and STB (VND126.8bn, USD5.0mn). In contrast, buying focused on VHM (VND43.9bn, USD1.7mn), KBC (VND28.1bn, USD1.1mn), and VTP (VND27.5bn, USD1.1mn).

The net selling of VIC occurred during the time SK Vina II registered to sell VIC shares by put through method. SK Vina II, a subsidiary of SK Group, announced its plan to transfer nearly 50.86 million VIC shares of Vingroup as part of its portfolio restructuring. The transaction is expected to take place between January 16 and February 14, 2025, through negotiated trades.

Top gainers today included VCB (+1.4%), FPT (+0.7%) and BID (+0.5%). Top laggards included SAB (-1.8%), SJS (-4.3%) and VGC (-1.4%).

Read the full report: HERE