Vietnam Daily Market Recap June 12

Stocks advanced, led by retail, basic resources

The VN-Index opened higher on Wednesday and remained in the positive territory throughout the session, closing up 0.6% at 1,322.9. Market liquidity surged amid positive trade news between the US and China, with total trading value increasing 36.8% to VND19.8tn (USD761.5mn). The HNX Index followed a similar pattern, posting a gain of 0.7% to close at 227.7.

Most sectors increase today, led by Retail (+1.9%), Basic Resources (+1.9%) and Chemicals (+1.8%). In contrast, sectors such as Media (-3.4%), Real Estate (-1.6%) and Telecommunications (-1.3%) declined.
Top performers today included TCB (+2.8%), HPG (+2.7%) and STB (+5.0%), while top laggards included VIC (-4.2%), VHM (-2.9%) and VRE (-3.5%).

PNJ (+3.0%) advanced today, amid news that the government is planning to end the state’s monopoly on gold bar
production. The State Bank of Vietnam has finalized a draft amendment to Decree 24 which will abolish the exclusive right of SJC to produce gold bars.The new policy will allow other qualified businesses to be licensed for gold bar production. This move is intended to increase competition and supply in the market, ultimately helping to reduce the significant price difference between domestic and international gold prices

Foreign investors net bought today with a total net buying value of VND448.7bn (USD17.3mn). Buying momentum focused on HPG (VND221bn, USD8.5mn), DGW (VND97.3bn, USD3.7mn) and MWG (VND90.3bn, USD 3.5mn). On the other hand, they net sold SHB (VND104bn, USD4.0mn), CTG (VND58.7bn, USD2.3mn) and VCB (VND49.8bn, USD1.9mn)

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