Vietnam Daily Market Recap July 16 – MBB & DPM Update, TCM AM

Stocks surge, led by financial services

The VN-Index opened around its reference price on Wednesday, but subsequently rose throughout the session, closing up 1.0% at 1,475.5, a fresh three-year high. Market liquidity decreased, with total trading value falling 4.8% DoD to VND32.9tn (USD1.2bn). The HNX Index followed a similar pattern, posting a gain of 0.8% to close at 242.4.

Most sectors increased today, with Financial Services (+2.4%), Real Estate (+2.2%), Telecommunications (+1.5%) and Basic Resources (+1.4%) leading gainers. In contrast, Media (-0.9%) and Travel & Leisure (-0.3%) declined.

Top performers today included VIC (+5.2%), HPG (+2.4%) and CTG (+1.8%). Top laggards included VPL (-0.8%), GVR (-0.8%) and VJC (-1.5%).

Last night, the United States and Indonesia reached a trade agreement where the US will lower its reciprocal tariff on Indonesian goods from 32% to 19%. In return, Indonesia will lift all tariff and non-tariff barriers on US goods, granting full access to its market. The deal also highlights US interest in importing high-quality copper from Indonesia.

FOX (+5.5%) surged today, as the Ministry of Public Security officially took over as the state capital representative at FPT Telecom from the State Capital Investment Corporation (SCIC). The transfer involves SCIC’s entire 50.2% stake in the company. This strategic decision is aimed at enhancing national security, data management, and digital transformation. FPT Telecom (FOX), a major telecommunications and internet service provider in Vietnam, now has two major shareholders: the Ministry of Public Security (50.2%) and FPT Corporation (45.7%).

Foreign investors continued their net bought streak today, with VND234.4bn (USD42.1mn), marking their 11th consecutive net-buying session. Buying momentum focused on HPG (VND150bn, USD5.8mn), SSI (VND146bn, USD5.6mn) and VPB (VND136bn, USD5.2mn). On the other hand, top net sold stocks were HCM (VND127bn, USD4.9mn), VCB (VND113bn, USD4.3mn) and NLG (VND101bn, USD3.9mn).

Read the full report: HERE