Vietnam Daily Market Recap August 13

Stocks inch higher as banks advance

The VN-Index opened higher on Wednesday, but slumped mid-session. However, the market subsequently recovered in the afternoon session, ending up 0.2% at 1,611.6. Market liquidity increased, with total trading value surging 23.1% DoD to VND55.9tn (USD2.2bn). The HNX Index followed a similar pattern, climbing 1.2% to close at 279.7.

Most sectors gained, led by Insurance (+5.0%), Financial Services (+2.0%), Telecommunications (+1.5%) and Banks (+0.5%). In contrast, Oil & Gas (-1.6%), Retail (-1.4%) and Technology (-1.4%) declined.

MBB (+6.2%) and MBS (+9.9%) surged today following the announcement that Military Commercial Joint Stock Bank (MB Bank) has signed a Memorandum of Understanding (MOU) with Dunamu, the operator of South Korea’s largest cryptocurrency exchange, Upbit. The partnership aims to launch the first official cryptocurrency exchange in Vietnam. Under the agreement, Dunamu will lend its technological and operational expertise, including security and anti-money laundering systems, to support MB Bank.

FPT (-2.2%) declined today after the company announced a reduction in its 2025 revenue growth target from a planned 20% down to 15%. The primary reason for this adjustment is that the company’s new AI factories in Vietnam and Japan are not performing as expected, with current usage efficiency below 10% due to weaker-than-anticipated demand. Despite the lowered revenue outlook, FPT’s leadership stated that the pre-tax profit growth target of over 18% for the year remains unchanged, and they anticipate demand will improve in 2026.

Top performers today included MBB (+6.2%), CTG (+3.3%) and MSN (+2.8%), while top laggards included VPB (-2.7%), VCB (-0.8%) and FPT (-2.2%).

Foreign investors net sold today with a total value of VND1.5tn (USD57.5mn). Selling pressure was heavily concentrated in FPT (VND1.1tn, USD41.5mn), as investors reacted to the revised corporate guidance. Foreign investors also sold SSI (VND192bn, USD7.4mn) and MWG (VND142bn, USD5.4mn). On the other hand, top net buying was seen in SHB (VND130bn, USD5.0mn), HCM (VND98.4bn, USD3.8mn) and CMG (VND96.9bn, USD3.7mn).

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