Vietnam Daily Market Recap September 06, 2024

Market commentary: Stocks end short trading week higher, led by Chemicals

The VN-Index ended the three-day trading week on a positive note, closing up 0.5%, or 5.75 points, to 1,273.96. Total trading value was 6.6% lower than yesterday at VND15.5tn (USD646mn). The HNX-Index declined 0.2%, closing at 234.65. 

For the week, the VN-Index fell 0.8% (-9.91 points) and daily trading value was flat compared to the previous week (VND15.9tn/USD663bn). 

The Chemicals (+1.2%) sector gained the most today, led by GVR (+1.8%), DGC (+0.3%), DCM (+2.3%), DPM (+3.5%) and PHR (+0.2%). Investors expect yellow phosphorus to recover in September, after falling from May to August, thanks to higher demand in China. Moreover, oil prices have recently declined, adding to the positive sentiment for fertilizer stocks. 

MSN (+2.6%) said at its latest meeting with investors that the company’s 3Q24 profit is expected to be higher than 2Q24. Masan’s retail segment, WinCommerce, continued to generate net profit in August, and the company is expected to complete its divestment of HCS in the fourth quarter of this year.

BID (+1.2%), MSN (+2.6%), CTG (+1.4%) and GVR (+1.8%) were the biggest gainers, contributing 2.7 points to the VN-Index. On the contrary, VIC (-0.9%), SSB (-2.7%), HDB (-0.7%) and HVN (-0.9%) were the stocks that had the most negative impact on the index.

Foreign investors net bought today with VND233bn (USD9.7mn). Buying momentum focused on FPT (VND200bn, USD8.3mn), CTG (VND103bn, USD4.3mn), VNM (VND83bn, USD3.5mn) and STB (VND58bn, USD2.4mn). In contrast, VHM was most sold at VND370bn (USD15.4mn)

Read the full report: HERE