Vietnam Daily Market Recap August 28

Stocks advance, led by financial services

The VN-Index opened higher on Thursday, remained in positive territory throughout the session and closed up 0.5% at 1,680.8. Market liquidity decreased, with total trading value dropping 28.2% DoD to VND47.3tn (USD1.2bn). The HNX Index edged higher 0.1% to close at 276.6.
Most sectors increased today, led by Financial Services (+3.0%), Retail (+1.7%) and Food & Beverage (+1.1%), while Telecommunications (-0.8%), Real Estate (-0.4%) and Technology (-0.4%) declined.
SSI (+4.4%) led the Financial Services sector after announcing its plans to submit a proposal to offer up to 415.58 million shares to existing shareholders through a rights issuance. The execution ratio is 5:1, meaning shareholders holding five shares will be entitled to purchase one new share. The offered shares will be freely transferable. Shareholders holding restricted shares will still be entitled to exercise their rights. The expected offering price is VND15,000 per share. If fully subscribed, the offering could raise up to VND6.23tn (USD236.3mn) to strengthen capital for investment and margin lending activities.
Top performers today included VPB (+2.1%), TCB (+1.6%) and SSI (+4.4%). Top laggards included VIC (-1.5%), BID (-0.7%) and STB (-1.4%).
Foreign investors net sold today with a total value of VND2.68tn (USD101.7mn). Selling pressure was concentrated in HPG (VND591.1bn, USD22.4mn), MSB (VND421.7bn, USD16mn) and MBB (VND319bn, USD12.1mn). On the other hand, top net buying was seen in GMD (VND135.7bn, USD5.1mn), SHS (VND79.9bn, USD3mn) and GEX (VND68.2bn, USD2.6mn).

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