Vietnam Daily Market Recap June 2 – GAS AGM

Stocks advanced, led by oil & gas, automobiles

The VN-Index opened lower on Monday, traded in negative territory all day, then staged a dramatic late-session rally to close at 1,336.3 (+0.3%). Market liquidity declined 6.7% DoD to VND20.8tn (USD801.7mn). The HNX Index followed a similar trend, surging 1.3% to close at 226.2.

Today’s sector performance was mixed, with Oil & Gas (+3.9%), Automobiles & Parts (+2.6%) and FInancial Services (+1.7%) leading the gainers. On the other hand, Media (-1.9%), Retail (-1.9%) and Basic Resources (-0.6%) lagged behind.

PLX (+3.2%) surged today, following its announcement to pay nearly VND1.5tn (USD57.7mn) in cash dividends for FY24, at a rate of VND1,500 per share (15% of par value).

PNJ (-5.2%) amid the HCMC tax department has transferred PNJ’s case to the Ministry of Public Security for further investigation. This follows a tax inspection for the 2017-2018 period where authorities reportedly found signs of criminal law violations concerning tax, invoice, and accounting regulations. In response, PNJ stated it had already fulfilled all tax obligations and viewed the transfer to the police as a procedural step for further clarification. PNJ emphasized its ongoing cooperation with authorities, asserting that business operations remain normal and transparent.

Top performers today included TCB (+1.3%), GVR (+2.1%) and STB (+2.7%), while top laggards included VPL (-1.7%), VHM (-0.8%) and BID (-0.8%).

Foreign investors remained net sellers today, offloading a total of VND211.2bn (USD8.1mn), with the strongest selling pressure on HPG (VND136.1bn, USD5.2mn), VIC (VND78.9bn, USD3.0mn) and MSB (VND72.4bn, USD2.8mn). Meanwhile, foreign investors mainly bought SHB (VND94.8bn, USD3.6mn), EIB (VND77.3bn, USD3.0mn) and VIX (VND66.1bn, USD2.5mn).

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