Vietnam Daily Market Recap August 6, 2024 & 2Q24 Earnings Review

Market Commentary: VN-Index bounces back from global sell-off

After a strong sell-off in the first trading session of the week, the VN-Index rebounded strongly on Tuesday, closing up 1.9%, or 22.21 points, to 1,210.28. The HNX Index also increased by 1.7%, or 3.8 points, to 226.5.

All sectors gained today, except for Industrials Goods & Services (-1.0%), led by ACV (-6.0%). 383 stocks rose while only 58 fell.

Top stock performers included VNM (+4.8%), GVR (+4.2%), MSN (+3.8%), BID (+1.4%), BCM (+5.2%) and FPT (+1.9%). VNM contributed the most to the VN-Index with 1.7 points, as its share price rose to a 10-month high.

IDC (+3.9%) traded in the green throughout the session on news the firm plans to complete site clearance for phase 1 (360ha) of its Tan Phuoc 1 IP project by the end of 2024 – early 2025 and for the rest of the project in 2026. The estimated project scale is 470ha with a total investment capital of VND5.9tn (USD236mn).

Foreign investors net sold today with a net trading value of VND732bn (USD29mn), focusing on VNM (VND204bn, USD8mn), DGC (VND50bn, USD2mn) and MSN (USD42bn, USD2mn). On the contrary, VJC (VND358bn, USD14mn), FPT (VND114bn, USD5mn) and AGG (VND113bn, USD5mn) were mainly sold.

Read our full report: HERE