Vietnam Daily Market Recap Feb 27

Stocks edge higher, led by VIC  

The VN-Index opened higher on Friday, spent most of the session in positive territory, and eked out a small gain of 0.04% to close at 1,880.3. Market liquidity dipped, with total trading value only decreasing 5.3% DoD to VND30.2tn (USD1.2bn). The HNX Index followed the same pattern as the VN-Index, but posting a slightly stronger gain of 0.2% to close at 262.8.

For the week, the VN-Index posted a strong performance post-Tet holiday, advancing 3.1%. For the month, the VN-Index was up 2.8%, thanks to VIC (+22.4% this month), as GSM (Vingroup’s subsidiary) significantly increased its charter capital to VND43.4tn (USD1.7bn) to fuel its rapid global expansion, with the ambition to list GSM internationally with a target valuation of USD20bn.

Today’s top gaining sectors were Oil & Gas (+3.3%), Technology (+2.1%), and Utilities (+1.2%). In contrast, Insurance (-2.3%), Food & Beverage (-2.1%), and Media (-1.6%) declined.

VIC (+1.8%), BSR (+4.0%), and GAS (+1.8%) were top gainers today, while MCH (-3.4%), VNM (-3.4%), and HPG (-2.0%) were top laggards.

Foreign investors net bought today, totaling VND190.6bn (USD7.3mn), focusing on FPT (VND220.0bn, USD8.4mn), GMD (VND205.7bn, USD7.9mn), and MWG (VND158.4bn, USD6.1mn). Conversely, foreign net selling was mainly observed in VNM (VND243.1bn, USD9.3mn), VCB (VND162.7bn, USD6.2mn), and FRT (VND108.1bn, USD4.1mn).

Read the full report: HERE