Vietnam Daily Market Recap Jan 30 – MBB, TCM, HAH, FPT & DCM Earnings

Stocks advance, led by oil & gas

The VN-Index opened higher on Friday and traded in positive territory throughout most of the session, closing up 0.8% at 1,829. Market liquidity improved, with total trading value increasing 14.3% DoD to VND29.3tn (USD986mn). The HNX Index opened higher and was able to maintain its positive momentum throughout the session, surging up 1.4% to close at 256.1.

For the week, the VN-Index declined 2.2% as state-owned companies experienced a short-term technical correction, after a recent rally. For the month, the VN-Index advanced 4.2%, led by major state-owned tickers such as VCB, BID, GAS, GVR, BSR and PLX, following the introduction of Resolution 79 on the development of the state-owned economy. The resolution allows SOEs to retain proceeds from divestment and after-tax profits for reinvestment rather than remitting them entirely to the State budget, boosting investor sentiment on the prospects of state-owned firms.

Most sectors advanced today, with Oil & Gas (+2.9%), Retail (+2.6%) and Travel & Leisure (+1.6%) gaining, while Technology (-1.3%), Chemicals (-1.1%) and Media (-0.4%) declined.

Top performers today included BID (+3.9%), TCB (+2.9%) and VCB (+1.0%), while top laggards included VHM (-0.9%), GVR (-2.5%) and FPT (-1.5%).

Foreign investors net bought today, with a total value of VND688bn (USD26.5mn), with buying momentum focused on HPG (VND389bn, USD15.0mn), MSN (VND277bn, USD10.7mn) and BID (VND181bn, USD6.9mn), while foreign investors mainly sold VIC (VND324bn, USD12.5mn), ACB (VND108bn, USD4.1mn), and MWG (VND107bn, USD4.1mn).

Read the full report: HERE