Daily Market Recap Apr 26 – VPB Earnings Flash, SSI, DGW & VNM AGM Notes

Market commentary: Stocks edge higher ahead of long holiday weekend

We would like to remind our readers that Vietnamese markets will be closed next Monday to Wednesday. We will resume publication on Thursday.

The VN-Index opened lower before quickly rallying to a peak of up 0.8% in the morning session. In the afternoon, the market was little changed before popping at the close to end up 0.4% at 1,209. The HNX Index closed at 226.82 (-0.3%). For the week, the VN-Index rose 3% to close at its one-week high while the HNX-Index rose 2.7% this week.

Foreign investors returned to buy after four consecutive days of selling with a total value of VND2.2tn while net selling value was VND2.1tn. They mainly bought MWG (VND273bn; USD10.7mn), PVS (VND95bn; USD3.7mn), and VCB (VND69bn; USD2.7mn) while stocks that were sold included DIG (VND60bn; USD2.36mn), CTG (VND58bn; USD2.28mn) and VRE (VND57bn; USD2.24mn).

Banks were the best performing sector today, led by HDB (+4.9%), SHB (+3.2%), and KLB (2.8%). Real estate ranked second thanks to the increases of AGG (+5.9%) and VIC (+5.8%).

VIC (+5.8%) surged as net profit reached its highest in three years at VND1.3tn (+126% YoY) thanks to the divestment of Vincom Retail.

FRT (+5.2%) continued to see a strong increase today after the announcement of impressive 1Q24 business results. Specifically, the company recorded revenue of VND9.0tn (USD355mn) (+17% YoY), and PBT of VND89bn (USD3.5bn) (+4,300% YoY)

FCN (+6.41%) almost hit its ceiling price after HDCapital purchased 7mn shares, and became a major shareholder of FCN. HBC (+4.7%) also gained when the company announced its plan to issue 274mn new shares to increase its capital. In addition, 1Q24 net income was VND56.5bn (USD2.2bn) after 1Q23’s negative net profit.

Other top movers today were VIC (+5.8%), HDB (+4.9%) and GVR (+2.0%), contributing 3.5 points to the index. Top laggards included BID (-0.8%), MSN (-1.3%) and GAS (-0.7%).

Read the full report: HERE