Vietnam Daily Market Recap Feb 10

Stocks inch lower, led by energy, chemical tickers

The VN-Index opened lower on Tuesday and closed down 0.1% at 1,754. Market liquidity improved significantly, with total trading value rising by 41.8% DoD to VND28.7tn (USD1.1bn).  Similarly, the HNX Index traded lower throughout the session, resulting in a 0.9% loss to close at 253.8.

GAS (-6.9%) declined today amid heavy profit-taking following a recent rally driven by expectations of state divestment under Resolution 79-NQ/TW. The sell-off was further exacerbated by significant foreign net selling targeting large-cap state-owned enterprises, causing major oil and gas stocks like PLX and GAS to reverse sharply and hit their floor prices despite a positive long-term industry outlook.

Top declining sectors today were Telecommunications (-8.8%), Oil & Gas (-6.5%), and Chemicals (-4.3%). Conversely, Real Estate (+4.8%) and Financial Services (+0.9%) increased.

BID (-6.9%), GAS (-6.9%), and VCB (-2.9%) were the top underperformers today, while VIC (+6.9%), VHM (+6.3%), and VPL (+1.8%) led gainers.

Foreign investors net bought today, totaling VND767.6bn (USD29.2mn), focusing on MBB (VND570.8bn, USD21.7mn), VIC (VND210.2bn, USD8mn), and MWG (VND200.5n, USD7.6mn). Conversely, foreign net selling took place in VCB (VND224bn, USD8.5mn), BID (VND166.9bn, USD6.3mn), and FPT (VND131.7bn, USD5mn)

Read the full report: HERE