Vietnam Daily Market Recap August 8, 2024 – HSG & NKG Update, ETF Report

Market Commentary: Market drops, led by travel, telecom

The VN-Index ended the morning session in positive territory on Thursday but sellers stepped in in the afternoon and the index closed down 0.6%, or 7.56 points, at 1,208.32. The HNX Index also fell by 0.5% to 226.73.

Travel & Leisure (-3.0%), and Telecommunications (-2.9%) were the sectors that declined the most, led by HVN (-7.0%) and VGI (-3.6%). Industrial Goods & Services (+1.6%) was the best performing sector, led by ACV (+0.4%), MVN (+7.7%) and GMD (+0.3%). Personal & Household Goods (+1.5%), and Utilities (+1.4%) also gained led by GAS (+2.9%), VGT (+3.7%), TCM (+2.0%) and MSH (+7.0%).

VCG (+5.7%) also jumped after reporting its 1H24 NPAT surged by 260% YoY to VND645bn (USD25.6mn). Vinaconex is one of the members of the Vietur Contractor Consortium that won package 5.10 worth VND35tn (USD1.4bn) under the Long Thanh Airport project while Package 4.6 constructs the passenger terminal and important items at Long Thanh. In addition, Vinaconex also constructs many other parts of the North-South expressway project.

TCH (-6.7%) hit its floor price today amid rumors about TCH shares being investigated by the Securities Commission for stock trading in 2021-2022.

Foreign investors net sold today with a net trading value of VND1.16tn (USD46mn), focusing on VJC (VND337bn, USD13.4mn), VHM (VND329bn, USD13mn) and TCB (VND246bn, USD9.7mn). On the contrary, HDB (VND358bn, USD14.2mn), FPT (VND182bn, USD7.2mn) and FRT (VND117.6bn, USD4.6mn) were mainly bought.

Other top performers today included GAS (+2.9%), MSN (+2.1%) and VHM (+1.1%). Conversely, top laggards included TCB (-4.4%), HVN (-7.0%), and HPG (-1.7%).

Read our full report: HERE