Vietnam Daily Market Recap March 17

Banking and Financial Services lead broad advance

The VN-Index closed Tuesday at 1,710.29, up 17.08 points or 1.0%, with market breadth positive at 179 advances (nine at ceiling) against 147 declines (six at floor), with 54 stocks unchanged. HOSE matched value rose to VND20.9tn (USD800mn), up 2.7% from the previous session but still below the 20-session average. The HNX-Index gained 0.5% to close at 246.86.

Thirteen of 16 sectors closed in the green. Financial Services (+3.1%), Telecoms (+3.0%) and Insurance (+3.0%) led the advance, followed by Food & Beverage (+2.1%), Resources (+1.9%), Technology (+1.7%), Retail Services (+1.7%), Leisure & Entertainment (+1.6%), Banking (+1.2%), Industrial Goods & Services (+0.9%), Real Estate (+0.9%), Healthcare (+0.6%) and Construction & Materials (+0.5%). Oil & Gas (-5.6%) was the session’s worst performer for the second consecutive day, followed by Chemicals (-2.1%) and Utilities (-1.0%).

Among VN30 constituents, 23 stocks advanced against six decliners, with one hitting its floor price and one unchanged, as the index climbed 1.1% to close at 1,873.65. No stock withing the basket hit their ceiling price.

Foreign investors maintained net selling pressure, offloading a net VND690bn (USD26mn) on HOSE. VIC drew the heaviest foreign selling at VND989.1bn, followed by BID (VND102.2bn), FPT (VND97.1bn), VHM (VND56.7bn) and VNM (VND47.8bn). On the buy side, VCK attracted the strongest foreign interest at VND287.6bn, followed by MCH (VND215.2bn), MSN (VND130.3bn), VCB (VND77.4bn) and PVD (VND75.5bn).

Read the full report: HERE