Vietnam Daily Market Recap Mar 03

Stocks plunge, led by Vingroup-related tickers

The VN-Index opened lower on Tuesday and remained in negative territory throughout the session, closing down 1.8% at 1,813, with most of the decline attributed to Vingroup-related tickers, including VIC (-7.0%), VHM (-7.0%), VRE (-5.2%) and VPL (-5.2%). Market liquidity slightly declined, with total trading value dipping 7.5% DoD to VND44.0tn (USD1.7bn). On the other hand, the HNX Index opened higher and remained in the positive territory throughout the session, closing up 0.4% at 260.0.

Oil & Gas (+7.1%) posted a strong gain for a second day, as escalating Middle East conflict drives crude oil prices higher amid global supply disruption fears.

Today’s top declining sectors were Real Estate (-5.6%), Travel & Leisure (-3.5%), and Technology (-2.6%). In contrast, Oil & Gas (+7.1%), Chemicals (+5.0%), and Utilities (+3.7%) gained.

The top underperformers today were VIC (-7.0%), VHM (-7.0%), and BID (-3.7%), while GAS (+6.9%), MCH (+7.0%) and GVR (+7.0%) led gainers.

Foreign investors net sold today, totaling VND789.0bn (USD30.1mn), focusing on HPG (VND369.5bn, USD14.1mn), VHM (VND252.7bn, USD9.6mn), and VNM (VND143.0bn, USD5.5mn). Conversely, foreign net buying was mainly observed in VPB (VND153.6bn, USD5.9mn), SSI (VND145.7bn, USD5.6mn), and DCM (VND137.7bn, USD5.3mn).