Vietnam Daily Market Recap May 16 – FPT, POW & BMP Updates

Stocks pull back, led by tech, banks

The VN-Index opened higher on Friday, but could not hold those gains and closed down 0.9% at 1,301.41. For the week, the VN-Index increased 2.7%, mainly driven by the IPO of Vinpearl, to surpass the 1,300 level for the second time this year. Market liquidity today declined 19.8% DoD to VND20.8tn (USD798.3mn). The HNX Index followed a similar pattern, declining 0.3% to close at 218.7.

Most sectors were in the red today, led by Technology (-1.0%), Banks (-1.8%), Basic Resources (-1.8%) and Insurance (-1.6%). In contrast, sectors such as Industrials Goods & Services (+0.3%), Construction & Materials (+0.2%) and Real Estate (+0.1%) increased.

Top performers today included VPL (+3.4%), GEE (+7.0%) and GEX (+3.7%), while top laggards included VCB (-2.0%), FPT (-3.2%) and BID (-2.1%).

Foreign investors turned net sellers today, after three consecutive sessions of large buying, with a total net selling value of VND954.2bn (USD36.7mn). Foreigners sold VCB (VND420.1bn, USD16.1mn), FPT (VND228.4bn, USD8.8mn) and VHM (VND188.8bn, USD7.3mn). On the contrary, buying momentum focused on MWG (VND125.6bn, USD4.8mn), HSG (VND95.8bn, USD3.7mn) and TCH  (VND92.8bn, USD3.6mn.

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