Vietnam Daily Market Recap Oct 24 – DGC, MBB & MCH Earnings

Stocks plunge, led by real estate tickers 

The VN-Index opened higher on Monday but quickly reversed and traded in negative territory throughout the session, closing down 1.8% at 1,652.5. Market liquidity rose slightly, with total trading value inching up 2.8% DoD to VND30.7tn (USD1.2bn). The HNX Index traded in the positive territory throughout the session, but suddenly fell at the end of the session, closing down 0.7% at 267.3.

Most sectors declined today, led by Retail (-3.6%), Real Estate (-3.5%) and Oil & Gas (-2.0%), while Chemicals (+1.8%), Insurance (+0.9%) and Technology (+0.5%) gained.

Most real estate tickers plunged today, with Vingroup tickers leading the decline, including VIC (-2.3%), VHM (-7.0%) and VRE (-7.0%), while mid-cap real estate stocks followed the same pattern, with CEO (-9.7%), CII (-7.0%), DIG (-6.8%) and PDR (-6.9%) dropping. Investor sentiment was negatively affected by news that the SBV has warned against lending to pay for real estate deposits.

Top laggards today included VHM (-7.0%), VIC (-2.3%) and VRE (-7.0%). Top performers included GVR (+3.2%), POW (+3.4%) and BVH (+2.2%).

Foreign investors net sold today, with a total value of VND1.1tn (USD42.5mn), with selling value concentrated on SSI (VND576bn, USD21.9mn), MBB (VND446bn, USD17.0mn) and MWG (VND88.5bn, USD3.4mn). On the other hand, buying momentum was focused on buying FPT (VND306bn, USD11.6mn), marking a fifth consecutive session of foreign investors net buying the stock. They also bought VPB (VND121bn, USD4.6mn) and LPB (VND54.4bn, USD2.1mn).

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