Vietnam Daily Market Recap Oct 1

Stocks inch up, led by banks

The VN-Index opened higher on Wednesday and traded in positive territory throughout the session, closing up 0.2% at 1,665.1. However, market liquidity plunged, with total trading value declining 33.3% DoD to VND21.5tn (USD826mn). The HNX Index opened and traded around its reference price, closing up only 0.02% at 273.2.

Most sectors rose today, led by Banks (+1.0%), Automobile & Parts (+0.9%) and Food & Beverage (+0.6%), while Insurance (-1.7%), Real Estate (-1.3%) and Personal & Household Goods (-0.5%) declined.

VPBank Securities (VPBankS), a securities arm of VPB (-0.6%), is launching its Initial Public Offering (IPO) from October 10 to October 31. The company will offer up to 375 million shares, representing 25% of its circulating shares, at a price of VND33,900 per share. This marks the largest IPO in the history of the Securities sector, with a total value of over VND12.7tn (USD479mn).

Top performers today included STB (+5.1%), TCB (+1.9%) and LPB (+3.0%), while top laggards included VIC (-2.8%), VHM (-1.8%) and VPB (-0.6%).

Foreign investors net sold today with a total value of VND1.7tn (USD197mn). Selling pressure was concentrated in VHM (VND197bn, USD7.4mn), marking the 14th consecutive session of foreign investors net selling the stock. They also net sold FPT (VND164bn, USD6.2mn) and MWG (VND155bn, USD5.8mn). On the other hand, top net buying was seen in VIX (VND84.0bn, USD3.2mn), LPB (VND65.0bn, USD2.5mn) and TCB (VND53.6bn, USD2.0mn).

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