Vietnam Daily Market Recap July 05, 2024 – ETF report

Market Commentary: Market extends winning streak to fifth day

The VN-Index rose for a fifth consecutive day on Friday, closing up 0.3%, or 3.15 points, to 1,283.04. For the week, the index jumped 3%. The HNX-Index also rose today, up 0.2% to close at 242.31, and added 2% this week.

Travel & Leisure (+3.3%) was the best performing sector, led by HVN (+6.3%) and VJC (0.4%). amid positive investor sentiment toward the industry as the number of international tourists to Vietnam has recovered and is now 3% above the pre-COVID level at 21 million. HVN almost hit its ceiling price today after it announced it will receive new aircraft in July 2024. HVN has surged 170% since the beginning of April. 

The Technology (+1.5%) sector also rose, led by FPT (2.1%) and VTK (3.9%). Industrial Goods & Services (+1.2%) gained thanks to ACV (+2.7%), GMD (+2%), HAH (1.9%), SGP (4.3%) and GEX (0.4%). 

CSV (+7%) hit its ceiling price for the third day, after the last registration day (July 2) for CSV to finalize the list of shareholders to receive 2023 cash dividends and receive stock issuance to increase capital. Specifically, CSV will pay 2023 dividends in cash at a rate of 25% (one share receives VND2,500) divided into two installments along with issuing more than 66 million shares at a ratio of 100:150 to increase its charter capital to VND1.1tn (USD43.5bn). 

TV2 (-6.9%) hit its floor price for a second trading day after the Ministry of Industry and Trade (MIT) announced the termination of the BOT contract of Thermal Power Project Song Hau II. 

Foreign net selling continued with a total value of VND371bn (USD14.6mn), focusing on FPT (VND271bn, USD10.7mn), VRE (VND156bn, USD6.2mn), and HPG (VND92.3bn, USD3.6mn). On the contrary, NLG (VND98.3bn, USD3.9mn), SSI (VND64.3bn; USD2.5mn) and BID (VND56.6bn, USD2.2mn) were the top stocks net bought. 

Top performers today included HVN (+6.3%), FPT (+2.1%) and LPB (+2.7%). Conversely, top laggards included SAB (-1.4%), VRE (-2.1%) and HDB (-0.6%).

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