Vietnam Daily Market Recap May 9 – ETF Report

Stocks inch lower; media outperforms

The VN-Index opened higher on Friday, but could not hold those gains, closing down 0.2% at 1,267.3. Market liquidity remained subdued, with total trading value decreasing 9.4% DoD to VND17.3tn (USD665.8mn). The HNX Index also decreased 0.5% to close at 214.1.

For the week, the VN-Index advanced 3.3%, led by Vingroup tickers, with VIC (+12.5%) and VHM (+6.5%) leading WoW gains following news related to Vinpearl’s IPO at a valuation of VND127.9tn (USD5bn).

Today, sector performances were mixed, with Insurance (-1.1%), Real Estate (-0.9%) and Financial Services (-0.7%) decreasing. In contrast, Media (+4.1%), Technology (+1.4%) and Retail (+0.7%) led gainers.

Last night, the US and UK finalized a trade agreement aimed at enhancing bilateral economic relations. Under the deal, the US will reduce tariffs on British automotive imports from 27.5% to 10% for up to 100,000 vehicles annually, while eliminating tariffs on UK steel and aluminum. In return, the UK will lower its average tariff on US goods from 5.1% to 1.8%, notably removing the 19% tariff on US ethanol, facilitating over USD700mn in exports, and increasing imports of US beef and other agricultural products. This first deal sends a positive signal to other countries about future tariff negotiations.

Top laggards today included VIC (-2.6%), VCB (-0.9%) and BID (-1.0%), while top performers included LPB (+4.4%), FPT (+1.5%) and TCB (+0.7%),

Foreign investors turned net sellers today, after four consecutive net buying sessions, with a total net selling value of VND107.3bn (USD4.1mn), with selling momentum focused on VCB (VND184.5bn, USD7.1mn), VHM (VND133.7bn, USD5.1mn), and NVL (VND90.3bn, USD3.5mn). On the contrary, they mainly bought FPT (VND70.1bn, USD2.7mn), MBB (VND64.1bn, USD2.5mn), and HPG (VND62.1bn, USD2.4mn).

Read the full report: HERE