Vietnam Daily Market Recap Jan 12 – PTB Update

Stocks rise as bank rally offsets real estate plunge  

The VN-Index closed higher on Monday after significant volatility throughout the day, opening at 1,875.66 and reaching an intraday high of 1,887.92 before paring some of its gains to finish up 0.5% to 1,877.33. Market liquidity increased, with total trading value climbing 6.2% DoD to VND41.7tn (USD158.7mn). The HNX Index opened higher and traded in positive territory throughout the session, posting a 1.93% increase to close at 251.88.

VCB (+6.9%) surged today following the announcement of Resolution 79-NQ/TW, which allows state-owned enterprises, including banks, to retain profits and receive reinvestment from SCIC for capital increases. This policy alleviates capital adequacy issues and enhances expectations for the valuations and growth of state-owned banks.

The top-performing sectors today were Telecommunications (+12.9%), Financial Services (+5.3%), and Banks (+4.5%). Conversely, Real Estate (-5.2%) and Retail (-1.4%) faced selling pressure and ended the day in negative territory.

Today’s top gainers were VCB (+6.9%), BID (+6.9%), and VPB (+6.9%), while the top laggards included VIC (-6.9%), VHM (-7.0%), and VRE (-6.8%).

Foreign investors net purchased today with a total value of VND1.1tn (USD41.7mn), primarily VCB (VND420.9bn, USD16mn), VPB (VND270.4bn, USD10.2mn), and HPG (VND177bn, USD6.7mn). On the other hand, foreign sales were concentrated in VIC (VND203.6bn, USD7.7mn), VHM (VND168bn, USD6.3mn), and STB (VND124bn, USD4.7mn).

Read the full report: HERE