Vietnam Daily Market Recap December 16, 2024 – DPM Update

Stocks inch higher, led by F&B, Masan

The VN-Index gained in the morning on Monday, sold off into the afternoon and then rallied into the close, ending the session up 0.1% at 1,263.8. Total trading value declined 2.4% compared to Friday to VND9.2tn (USD362.1mn) as investors awaited key events such as the Fed meeting, derivatives expiration, and the rebalancing of foreign ETFs, all converging this week. The HNX Index followed a similar pattern, closing flat at 227.

Sectors that gained today included Food & Beverage (+0.9%), Real Estate (+0.2%), and Travel & Leisure (+1.5%). In contrast, sectors such as Industrial Goods & Services (-0.2%), and Oil & Gas (-0.8%) declined.

MCH (+3.3%) led the gains among Food & Beverage stocks. On December 20, Masan Consumer Corporation will finalize the list of shareholders eligible for the 2024 interim dividend payment at a rate of 95% in cash. With 724.6 million outstanding shares, Masan Consumer will disburse nearly VND6.9tn (USD271mn) for this dividend payout.

Top performers today included BID (+0.8%), HVN (+3.2%), VNM (+1.3%) and VHM (+0.7%). Top laggards included HPG (-0.7%), GVR (-0.6%) and MBB (-0.6%).

VHM (+0.7%), a subsidiary of the Vingroup ecosystem, announced on December 13 a resolution to issue up to VND4.0tn (USD157.4mn) worth of non-convertible corporate bonds via private placement with a 36-month term. These bonds will be secured by collateral. Since the beginning of 2024, VHM has issued six batches of CB maturing in 2026 and one batch maturing in 2027, with interest rates of 12% pa, at a total value of VND14.3tn (USD565mn). Successfully issuing corporate bonds will strengthen its financial capacity for new projects.

Foreign investors net sold today with VND210.5bn (USD8.3mn), with selling momentum focused on HPG (VND148.2bn, USD5.8mn), BID (VND61.6bn, USD2.4mn), and PDR (VND54.8bn, USD2.2mn) while foreigners mainly bought SSI (VND79.9bn, USD3.1mn), HDB (VND72.7bn, USD2.9mn), and SIP (VND66.2bn, USD2.6mn).

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