Vietnam Daily Market Recap May 20 – Econ note

Stocks jump, led real estate

The VN-Index opened higher on Tuesday and traded in positive territory throughout the session, closing up 1.5% at 1,315.1 amid positive expectations from the second round of negotiations on the Bilateral Trade Agreement between Vietnam and the US, held from May 19 to 22, 2025, in Washington D.C.. Market liquidity increased, with total trading value rising 3.2% compared to Monday to VND20.1tn (USD777mn). The HNX Index rose 0.2% to close at 217.7.

Most sectors gained today, led by Real Estate (+3.9%), Industrial Goods & Services (+1.3%), and Banks (+0.9%). In contrast, sectors such as Telecommunications (-0.5%) and Oil & Gas (-0.2%) declined.

Top performers today included VIC (+6.9%), VHM (+6.9%), TCB (+4.9%) and VRE (+4.2%). VIC (+6.9%) led the gains, adding 5.2 points to the index. Top laggards included GAS (-0.3%), NVL (-1.7%) and PLX (-0.9%).

TCB (+4.9%) led the banking sector today. Following the issuance of its ESOP, Techcombank’s charter capital will rise from VND70.6tn (USD2.72bn) to VND70.862tn (USD2.73bn). The issuance is expected to take place in either Q3 or Q4/25. The bank plans to issue nearly 21.4 million shares to its employees, including ~6.6 million shares for foreign employees and over 14.8 million shares for Vietnamese staff. The issuance represents ~0.3% of its total outstanding shares.

VIC (+6.9%) and VHM (+6.9%) hit their ceiling prices today. Vingroup announced it would acquire all shares in VinIT Technology Solutions JSC from Vinhomes. Following the transaction, Vingroup will directly own 79% of VinIT’s charter capital.

Foreign investors net sold today with VND564.3bn (USD21.8mn), with selling momentum focused on VHM (VND571bn, USD22.2mn), FPT (VND319.2bn, USD12.4mn) and SHB (VND176.1bn, USD6.8mn). Meanwhile, foreign investors mainly bought FUEVFVND (VND180bn, USD7mn), VIX (VND111.7bn, USD4.3mn) and MWG (VND104.8bn, USD4mn).

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