Daily Market Recap Apr 24 – TCB, KDH, TPB, PVD AGM Notes, TCB, FPT, PHR Earnings Flashes, VIB Update & Economic Update

Market commentary: Market surges, led by tech

The VN-Index popped higher at the open and maintained its positive momentum throughout the rest of the trading day, with market closing at 1,205.6, up 2.4% (or 28.21 points). The HNX Index also jumped, enjoying a 2.35% increase to finish at 227.87.

Tech stocks (6.2%) surged today, including FPT (+6.95%), CMG (+5.84%), and ELC (+7.0%). This sharp increase was fueled by news of a comprehensive strategic partnership between FPT and Nvidia to boost AI research. FPT plans to invest US$200 million to establish an AI factory, providing a cloud computing platform for AI research and development in Vietnam. The factory will feature supercomputing systems operating on Nvidia’s latest technology.

All sectors rose today, including banks (+1.6%), real estate (+2.56%), food & beverage (1.3%), reflecting the overall market’s positive sentiment. Financial services (4.2%) was the best performing sector, led by VND (+6.1%), SSI (+3.3%), VCI (+4.3%) and HCM (+4.9%).

VTP (+6.95%) hit its ceiling price today. VTP plans to reduce the shipping time between Nanning city and Hanoi to only 12 hours, thereby reducing 30% of logistics costs (thanks to cooperation between Viettel and Nanning city in the field of logistics and cross-border transportation recently), which will contribute to promoting trade between the two countries.

Other top performers today included CTG (+4.6%), GVR (+6.9%), HPG (+4.4%) and MWG (+5.0%). Conversely, top laggards included STG (-5.0%), QCG (-3.9%), PGI (-5.2%), VSH (-1.1%), and TRA (-2.2%).

Read the full report: HERE