Vietnam Daily Market Recap July 18 – DGC Update

Stocks rise to just below 1,500, led by oil & gas

The VN-Index opened higher on Friday, traded around its reference price during most of the session, and closed up 0.5% at 1,497.3, a fresh three-year high. Market liquidity increased, with total trading value increasing 0.7% DoD to VND35.9tn (USD1.4bn). The HNX Index was in the green throughout the session, posting a gain of 0.7% to close at 247.8. For the week, the VN-Index surged 2.7%, heading closer to the 1,500 level and its all-time high close of 1,528.5, which was reached on January 6, 2022.

Most sectors increased today, with Oil & Gas (+1.5%), Media (+1.2%), Financial Services (+1.0%) and Personal & Household Goods (+1.0%) leading gainers. In contrast, Insurance (-1.3%) and Technology (-0.9%) declined.

Top performers today included VHM (+2.0%), TCB (+3.1%) and STB (+5.2%). Top laggards included VIC (-2.5%), VCB (-0.5%) and FPT (-0.8%).

Yesterday, the State Bank of Vietnam issued Circular 14, aligning capital rules with international standards by mandating a minimum 8% Capital Adequacy Ratio (CAR). The regulation introduces a capital buffer that restricts dividend payouts for banks failing to meet it, creating a distinct advantage for banks that already maintain a high CAR. Well-capitalized institutions such as VPB and TCB can avoid such restrictions, continue rewarding shareholders, and signal superior financial strength to the market.

Foreign investors net sold today with VND108bn (USD4.2mn). Selling momentum focused on FPT (VND186bn, USD7.2mn), VCB (VND96.6bn, USD3.7mn) and GEX (VND82.6bn, USD3.2mn). On the other hand, top net bought stocks were MSN (VND264bn, USD10.2mn), VPB (VND115bn, USD4.4mn) and SSI (VND98.0bn, USD3.8mn).

Read the full report: HERE