Vietnam Daily Market Recap Oct 24 – PVS Earnings

Stocks decline, led by financials

The VN-Index opened lower on Friday and traded in negative territory throughout the session, closing down 0.2% at 1,683.2. Market liquidity improved, with total trading value increasing 21.5% DoD to VND29.9tn (USD1.1bn). The HNX Index traded in the negative territory throughout the session, but suddenly advanced towards the end of the session, closing up 0.2% at 267.3.

For the week, the VN-Index declined 2.8%, with the index recording its largest absolute decline ever of 94.8 points (-5.5%) on Monday but subsequently recovered later in the week. Average daily trading value declined 13.5%, as investors remained on the sidelines awaiting corporate earnings next week.

Sector performance was mixed, with Media (-3.9%), Financial Services (-2.1%) and Industrial Goods & Services (-1.1%) declining, while Telecommunications (+4.3%), Technology (+2.7%) and Chemicals (+1.0%) leading gainers.

Top laggards today included TCB (-3.1%), MBB (-3.2%) and VPB (-2.7%). Top performers included VIC (+1.8%), FPT (+2.8%) and VNM (+2.7%).

Foreign investors net sold today, with a total value of VND1.8tn (USD66.5mn), focusing on SSI (VND759bn, USD28.6mn), MBB (VND346bn, USD13.1mn) and VCI (VND200bn, USD7.5mn). On the other hand, foreign investors were net buyers of FPT (VND247bn, USD9.3mn), VHM (VND154bn, USD5.8mn) and ACB (VND74.5bn, USD2.8mn).

Read the full report: HERE