Give us your feedback

Vietnam Daily Market Recap July 02, 2024 – PLX Update

Daily Market Recap 02/07/2024    25

Share

Market Commentary:  Banking stocks lead market higher

The VN-Index on Tuesday added to yesterday’s gains, jumping 1.2%, or 15.2 points, to 1,269.79. The HNX-Index followed the same trend, rising 0.9% to close at 240.8.

Industrial Goods & Services (-0.1%), Technology (-0.4%) and Health Care (-0.04%) were the only three sectors to fall in today’s trading session, led by MVN (-7.5%) and FPT (-0.5%).

In contrast, Banks (+2.0%) outperformed the overall market, contributing 12.95 points to the index, led by LPB (+6.1%) and HDB (+4.3%). We believe that HDB increased sharply today because the company announced a dividend ex-dividend date on 7/15/2024 with a cash dividend rate of 10% and a stock dividend of 20%, and foreign investors net bought the ticker with a total value of VND19.3bn (USD800,000).

Basic Resources (+1.0%) were also in the green, including HPG (+1.2%) and NKG (+3.6%). In addition, SMC (+6.8%) hit its ceiling price.

Foreign net selling slowed to a total value of VND30.7bn (USD1.2mn, down 96% compared to yesterday’s trading session). DSE (+0.4%), NLG (+3.2%) and BID (+4.2%) were the top stocks net bought with a total value of VND286bn (USD11.2mn). On the contrary, VHM (+1.2%), TCB (+1.1%) and VRE (-0.7%) were the top net sold stocks with a total value of VND135bn (USD5.3mn).

Read our full report: HERE