Vietnam Daily Market Recap Oct 14

Stocks pull back after four-day win streak

The VN-Index opened higher on Tuesday, building off yesterday’s momentum, and traded in positive territory throughout the session, but suddenly reversed at the end of the session, closing down 0.2% at 1,761.1, putting a break on the winning streak since the FTSE upgrade. Market liquidity increased, with total trading value raising 17.8% DoD to VND52.4tn (USD2.0bn). The HNX Index followed the same pattern as the VN-Index, but only closed down 0.01% at 275.3.

Most sectors declined today, led by Oil & Gas (-2.1%), Telecommunications (-2.0%) and Basic Resources (-1.7%), while Travel & Leisure (+2.1%), Real Estate (+1.6%) and Media (+0.9%) gained.

VIC (+3.2%) surged today, amid news that Vingroup’s Chairman Pham Nhat Vuong has completed a contribution of over 60 million VIC shares to establish VinEnergo. This strategic move, representing 1.55% of Vingroup’s charter capital, aims to create a new entity focused on renewable energy. The market reacted positively to this development, which is part of a broader trend of Vingroup establishing new companies, including VinMetal and VinDynamics. This restructuring is seen as a positive step toward optimizing Vingroup’s diverse portfolio.

Top laggards today included CTG (-2.2%), BID (-2.1%) and HPG (-2.2%), while top performers included VIC (+3.2%), VHM (+2.3%) and VPB (+2.5%).

Foreign investors net sold today, with a total value of VND1.4tn (USD53.2mn), focusing on FPT (VND336bn, USD12.7mn), SSI (VND272bn, USD10.3mn) and VRE (VND221bn, USD8.3mn), while buying focus was on Vingroup-related tickers, led by VIC (VND354bn, USD13.3mn) and VHM (VND216bn, USD8.1mn).

Read the full report: HERE