Vietnam Daily Market Recap Nov 24

Stocks advance, led by travel & leisure 

The VN-Index opened higher on Monday and traded in positive territory throughout the session, closing up 0.8% at 1,667.9. Market liquidity declined 13.1% DoD at VND17.2tn (USD652.2mn). On the other hand, the HNX Index traded lower today, posting a loss of 0.7% to close at 261.2.

Sectors were mixed today. Travel & Leisure (+2.9%), Real Estate (+2.8%), and Food & Beverage (+1.4%) posted gains today, while Insurance (-1.3%), Oil & Gas (-1.0%) and Basic Resources (-0.9%) declined.

VIC (+4.3%) Chairman Pham Nhat Vuong has reportedly secured the financing plan for Vietnam’s USD67bn North–South high-speed railway project, a 1,541-km line connecting Hanoi’s Ngoc Hoi Station to HCMC’s Thu Thiem Station. Through Vingroup subsidiary VinSpeed, he proposes to fund the project with 20% equity (~USD12.3bn), while the remaining 80% would be an interest-free 35-year government loan. The plan is backed by dividends from Vingroup’s ecosystem and potential share sales in GSM, VinEnergo, and V-Green, positioning the project as a future national growth engine.

Top performers included VIC (+4.3%), VHM (+3.4%) and VNM (+5.2%), while top laggards today included STB (-2.5%), HPG (-1.1%) and GAS (-1.5%).

Foreign investors net sold today, with a total value of VND1.2tn (USD45.5mn). Top net sold names were VRE (VND288.3bn, USD10.9mn), MBB (VND157.7bn, USD6.0mn) and MWG (VND119.9bn, USD4.6mn). Buying momentum was concentrated on FPT (VND354.2bn, USD13.4mn), VNM (VND146.8bn, USD5.6mn), and HPG (VND64.6bn, USD2.5mn). Foreign investors have recorded a YTD net sale of VND4.8tn (USD182.1mn), reflecting continued divestment pressure across the market

Read the full report: HERE