Vietnam Daily Market Recap March 10

Banking leads technical rebound; Gas retreats on crude pullback

The VN-Index opened sharply higher on Tuesday, staging a technical rebound from Monday’s historic 6.51% collapse, and closed up 1.2% at 1,672.27. Afternoon selling pressure, however, somewhat dampened the buying enthusiasm seen during the morning session. The Oil & Gas sector showed signs of correction as international crude prices partially retreated from recent highs, weakening the broader upward momentum in today’s session. Market breadth was firmly positive with 258 advancers (18 upper-limit) against 88 decliners (nine lower-limit) and 37 unchanged. Market liquidity on HoSE reached VND38.2tn (USD1.5bn), broadly in line with the previous session and above the 20-session average. Similarly, the HNX Index recovered, gaining 1.4% to close at 238.65.

Among sectors, Basic Resources (+7.5%), Telecommunications (+7.4%), and Retail (+4.7%) led gainers, supported by a meaningful recovery in Banking (+4.3%) the index’s largest-weighted group, which provided the primary upside driver for the VN-Index today. Technology (+4.4%) and Food & Beverages (+3.4%) also outperformed. On the other hand, Oil & Gas (-5.8%), Automobiles & Parts (-4.3%), and Utilities (-3.4%) were the main drags, limiting the scale of today’s recovery.

The top performers today included STB (+6.9%), HPG (+6.9%), and VNM (+6.9%), while GEX (-4.1%), VIC (-2.6%), and BSR (-6.4%) underperformed. The VN30 posted a sharp rebound of 3.0%, closing at 1,834.36 with 25 advancers (five upper-limit) against just five decliners (two lower-limit), reflecting concentrated buying in large-cap bluechips.

Foreign investors net bought today on HoSE, totaling VND1.1 tn (USD40.8mn), with buying focused on HPG (VND581.3bn, USD22.1mn), MWG (VND561.6bn, USD21.3mn), and FPT (VND317.5bn, USD12.1mn). Conversely, foreign net selling was concentrated in STB (VND387.0bn, USD14.7mn), VIC (VND185.7bn, USD7.1mn), and VPB (VND153.7bn, USD5.8mn).

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