Vietnam Daily Market Recap Feb 26 – Event Note

Stocks advance, led by VIC  

The VN-Index opened higher on Thursday and retained its positive momentum throughout the session, closing up 1.0% at 1,879.6. Market liquidity declined, with total trading value decreasing 17.0% DoD to VND31.9tn (USD1.2bn). On the other hand, the HNX Index opened higher but traded in negative territory throughout the session, closing down 0.3% at 262.3.

Today’s top gaining sectors were Real Estate (+3.8%), Technology (+1.4%), and Oil & Gas (+1.0%). In contrast, Chemicals (-2.5%), Telecommunications (-2.5%), and Utilities (-1.9%) declined.

VNM (-2.4%) recorded a surge in foreign investors net selling of VND2.2tn (USD84.7mn), making up over two-thirds of today’s total foreign net selling value, as Platinum Victory Pte. Ltd – one of the dairy giant’s largest long-term foreign shareholders – registered to sell its entire 6.02% stake.

VIC (+6.9%) led the VN-Index today, as GSM significantly increased its charter capital to VND43.4tn (USD1.7bn) to fuel its rapid expansion. This move underscores billionaire Pham Nhat Vuong’s ambition to list the ride-hailing firm internationally with a target valuation of USD20bn, bolstering investor confidence in Vingroup’s electric mobility strategy.

VIC (+6.9%), GEE (+7.0%), and BSR (+2.2%) were top gainers today, while GAS (-3.6%), GVR (-3.3%), and VNM (-2.4%) were top laggards.

Foreign investors net sold today, totaling VND3.1tn (USD118mn), mostly focusing on VNM (VND2.2tn, USD84.7mn), FPT (VND725bn, USD27.8mn), and VHM (VND141bn, USD5.4mn). Conversely, foreign net buying was mainly observed in HPG (VND440bn, USD16.9mn), PNJ (VND150bn, USD5.7mn), and VIC (VND117bn, USD4.5mn).

Read the full report: HERE