Vietnam Daily Market Recap September 11, 2024 – Analyst Notes: Vinpearl, PC1, Hydropower

Market commentary: Stocks extend skid as Yagi batters insurers

The VN-Index fell for a third day on Wednesday, as the index closed down 0.2%, or 2.0 points, to 1,253.3. Similarly, HNX decreased by 0.1%, or 0.2 points, to 231.5.

The insurance sector (-1.0%) recorded the sharpest decline, followed by banking (-0.4%) and real estate (-0.3%).
Insurance sector stocks, including BVH (-0.5%), PVI (-1.8%), and BIC (-4.3%), were sold amid the aftermath of Typhoon Yagi. According to preliminary estimates from insurance companies, total damage caused by the storm is estimated at VND1tn (USD41mn), which could negatively impact the profits of insurance companies.

NVL (-6.7%) shares plunged after the firm delayed the publication of its audited semi-annual financial report for 2024 by more than five working days past the deadline for disclosure. Because of this delinquency, NVL may not meet margin trading requirements in the upcoming period.

On the other hand, the technology sector (+1.2%), and the goods and services sector (+0.2%) gained, mainly due to FPT (+0.5%), ACV (+1.2%) and PVT (+0.5%).

PVT announced the record date and payment of its dividend. The company is expected to pay dividends on October 10, 2024 of approximately VND107bn (USD4mn) to shareholders.

Other top performers today included HPG (+0.8%), HVN (+2.2%), and FPT (+0.5%). Conversely, top laggards included VCB (-0.7%), SSB (-5.9%) and NVL (-6.7%).

Read the full report: HERE