Vietnam Daily Market Recap July 10 – Banking Sector Note, TCB Conference Note

Stocks surge, led by real estate

The VN-Index opened higher on Thursday and remained in positive territory throughout the session for a fourth consecutive day of gains. It closed up 1% at 1,445.6, reaching a new three-year high. However, market liquidity declined by 21.3% DoD to VND27.4tn (USD1.1bn). In contrast, the HNX Index reversed course in the afternoon session, edging down 0.1% to close at 238.4.

Most sectors gained today, with Real Estate (+3.7%), Oil & Gas (+1.8%) and Telecommunications (+1.2%) leading gainers. In contrast, sectors such as Personal & Household Goods (-0.4%), Banks (-0.3%) and Construction & Materials (-0.1%) declined.

Top performers today included VIC (+6.9%), VHM (+5.1%) and VRE (+6.2%). Top laggards included VNM (-0.8%), VCB (-0.2%) and MBB (-0.6%).

Foreign investors continued their net buying today, with a total value of VND982bn (USD37.6mn) On HoSE, they net bought VND1.1tn (USD41.1mn); however, they recorded net selling on HNX and UPCOM, with respective values of VND39bn (USD1.5mn) and VND54bn (USD2.1mn). Buying momentum focused on VPB (VND155.2bn, USD5.9mn), FPT (VND103.6bn, USD4.0mn) and TCB (VND89.7bn, USD3.4mn). On the other hand, top net sold stocks were FUEVFVND (VND54.2bn, USD2.1mn), SSI (VND43.8bn, USD1.7mn) and GEX (VND38.5bn, USD1.5mn).

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