Vietnam Daily Market Recap Dec 30

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We would like to send you our Daily Market Recap for today

Market Commentary: The VN-INDEX edged down as large caps diverged

The VN-INDEX lost 0.2% to 1,097.5pts from the strong selling pressure of Financials large caps. After the opening bell, the VN-INDEX followed yesterday’s positive sentiment and rose to its intraday high of 1,108.8pts (+0.8%). Notably, VIC became today’s largest mover, gaining 1.9% to end at VND108,500, alone contributing 1.8pts to the index. However, in the afternoon session, the VN-INDEX tumbled as strong selling pressure emerged on large caps from the Financials, led by VCB (-1.3%), BID (-0.6%) and BVH (-3.0%), wiping 2.0pts off the index. Other large caps, including GVR (-3.4%) and HPG (-1.7%) also joined the sell-off. At the end of the session, the VN-INDEX lost 0.2% to close at 1,097.5pts. The HNX-INDEX also edged down 0.1% to land at 196.9pts.
Consumer Discretionary (+0.5%), Real Estate (+0.4%), and Energy (+0.3%) rose, while Materials (-0.9%), Financials (-0.3%), and IT (-0.2%) lost ground today. Top index movers included VIC (+1.9%), EIB (+6.9%), CTG (+0.6%), TCB (+0.5%), and BHN (+2.9%). Top index laggards consisted of VCB (-1.3%), GVR (-3.4%), HPG (-1.7%), BVH (-3.0%), and BID (-0.6%). Top three major put-through transactions were HDB with 15.8m shares (VND372.1bn), VIB with 4m shares (VND128bn), and DBD with 2.2m shares (VND110.3bn).
Foreigners net sold on HOSE to the amount of VND318.3bn, and also net sold on HNX to the amount of VND8.8bn. They mainly bought VNM (VND97.0bn), VHM (VND53.9bn), and VCB (VND43.3bn); and mainly sold HPG (VND256.3bn), VNM (VND142.0bn), and MBB (VND55.2bn).

Market News

Oil extends gains after report points to drop in U.S. stockpiles

Oil pushed higher in Asia after an industry report pointing to a third straight weekly drop in U.S. crude stockpiles spurred optimism over the demand recovery in the world’s largest economy. Futures in New York traded near US$48/barrel after climbing 0.8% on Tuesday. The American Petroleum Institute reported crude inventories fell by 4.79m barrels last week, according to people familiar with the data. That would be the biggest decline since October if confirmed by official figures due Wednesday. More dollar weakness also supported oil, which is priced in the currency. (Bloomberg)

PM decides to establish Vietnam Stock Exchange

Prime Minister Nguyen Xuan Phuc has signed Decision 37/2020/QD-TTg on the establishment of the Vietnam Stock Exchange (VNX), with the aim of unifying the stock market and ensuring efficient, fair, open and transparent activities. The VNX, with the chartered capital of VND3tr (US$130.2m), will be headquartered in Hanoi and operated as a one-member limited liability company wholly owned by the State. The Ministry of Finance will be the representative of the State capital. The Hanoi Stock Exchange (HNX) and the Ho Chi Minh Stock Exchange (HoSE) will become its subsidiaries, yet will both operate independently. 19 out of 25 sector indices on the stock market gained ground, including logistics, wholesale, real estate, IT, energy, securities, healthcare, construction materials, insurance, banking and rubber production. On the other hand, losers were food and beverage, seafood processing, retail and construction. A number of blue-chips attracted cash flow such as insurer Bao Viet Holdings (BVH), steel maker Hoa Phat Group (HPG), Vietnam National Petroleum Group (PLX), Phu Nhuan Jewelry (PNJ) and Vinhomes (VHM). On the Hanoi Stock Exchange, the HNX-Index climbed 2.14% to 196.57pts. (Vietnamnet.vn)

Notable Corporate Events

Vietnam Construction And Import-Export JSC (VCG VN, HOSE) – Dividend payment: VCG has set 12 Jan 2021 to be the record date for paying the 2019 and 2020 cash dividend of VND1,200/share. The payment will be made on 11 Feb 2021. (Ndh.vn)

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