Vietnam Daily Market Recap August 19 – TCB Update

Stocks advance, led by banks

The VN-Index opened higher on Tuesday, traded in the positive territory throughout the session, and closed up 1.1% at 1,654.2. Market liquidity increased, with total trading value surging 25.8% compared to Monday to VND49.7tn (USD1.89bn). The HNX Index followed a similar pattern, climbing 0.9% to close at 286.5.
Most sectors increased today, led by Banks (+2.2%), Oil & Gas (+2.7%) and Financial Services (+1.4%). In contrast, Retail (-1.4%) and Insurance (-1.4%) declined.
VPB (+7.0%) hit its ceiling price today, with a matched volume of more than 21 million shares, contributing 4.1 points to VN-Index. The uptrend came as news emerged that VPBank is preparing an IPO plan for VPBankS by the end of this year. The IPO could take place in 4Q, although details on size and timing are still under discussion and may change depending on market conditions. We believe that if VPBankS proceeds with the IPO this year, it would be one of the largest deals in the securities sector, adding another large-cap player to the market.
Top performers today included VPB (+7.0%), TCB (+3.3%) and LPB (+6.7%), while top laggards included MWG (-2.8%), VCB (-1.0%) and HPG (-2.8%).
Foreign investors net sold today with a total value of VND1.53tn (USD58.1mn). Selling pressure was concentrated on MWG (VND330bn, USD12.5mn), KDH (VND181bn, USD6.9mn) and HPG (VND162bn, USD6.2mn). On the other hand, strong net buying was seen in SSI (VND101bn, USD3.8mn), DIG (VND95bn, USD3.6mn) and SHS (VND85bn, USD3.2mn).

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