Vietnam Daily Market Recap January 17, 2025

Stocks advance, led by industrials on port approval

The VN-Index hovered around the reference level in the morning but gradually increased from the beginning of the afternoon session to close up 0.5% at 1249.1. Total trading value declined 22.8% DoD to VND10.3tn (USD406.6mn). The HNX-Index also rose 0.7% to 222.5.

Industrial Goods & Services (+2.4%) was an outstanding performer today, supported by container port stocks, including SGP (+14.8%), MVN (+9.8%) and PHP (+5.5%). We believe that the surge of SGP and MVN was driven by the approval of Can Gio International Transshipment Port yesterday.

Most other sectors were also painted green, such as Banks (+0.7%), Telecommunications (+2.4%), Basic Resources (+1.1%), Technology (+1.8%), Food & Beverage (+0.4%) and Real Estate (+0.3%).

DPR (+2.9%) gained after the investment policy for the Dong Phu II Industrial Park project in Binh Phuoc, covering an area of 317ha with a total investment of over VND1.3tn (USD51.3mn), was approved. We expect the land clearance process to progress swiftly, and the project’s gross profit margin to remain competitive compared to other projects, as the industrial park is located on DPR’s rubber plantation land, which allows for more competitive land costs.

Foreign investors eased selling with a net selling value of VND476.5bn (USD18.8bn), -84.7% DoD. Selling momentum focused on FPT (VND140.9bn, USD5.6mn), STB (VND64.6bn, USD2.6mn) and VCB (VND57.6bn, USD2.3mn). In contrast, they bought HDB (VND29.9bn, USD1.2mn).

For the week, both the VN-Index (+1.5%) and HNX-Index (+1.4%) advanced. VN-Index’s total trading value (-2.2%) slightly decreased, averaging VND10.9tn (USD430.3mn). Foreign investors net sold the whole week with a total net selling value of VND4.7tn (USD185.6mn), 4.3x more than last week.

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