Vietnam Daily Market Recap August 18 – AST & MSH Update

Stocks advance, led by Oil & Gas

The VN-Index opened higher on Monday, traded in the positive territory throughout the session, and closed up 0.4% at 1,636. However, market liquidity fell, with total trading value decreasing 24.4% compared to the previous session to VND50tn (USD1.7bn). The HNX Index traded around its reference price during the session, but closed up 0.5% at 282.3.

Most sectors increased today, led by Oil & Gas (+3.4%), Construction and Materials (+1.8%), Insurance (+1.8%) and Chemicals (+1.2%). In contrast, Media (-2.6%) and Travel & Leisure (-2.3%) declined.

BSR (+7.0%) hit its ceiling price today, leading Oil & Gas (+3.4%), fueled by news of its preparation to issue bonus shares. The company is planning a massive increase of its charter capital by nearly VND50tn (USD1.9bn). This capital injection is intended to fund major upcoming expansion and upgrade projects for the Dung Quat oil refinery. The proposal has generated strong positive investor sentiment regarding the company’s long-term growth prospects.

Top performers today included VPB (+2.9%), BSR (+7.9%) and VIX (+6.6%), while top laggards included MBB (-1.6%), CTG (-1.0%) and HVN (-2.8%).

Foreign investors net sold today with a total value of VND1.9bn (USD75.0mn), marking eight consecutive selling sessions. Selling pressure was focused on SHB (VND265bn, USD10.2mn), VPB (VND190bn, USD7.3mn) and FPT (VND165bn, USD6.3mn). On the other hand, top net buying was seen in GMD (VND156bn, USD6.0mn), VCB (VND122bn, USD4.7mn) and PDR (VND113bn, USD4.3mn).

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