Vietnam Daily Market Recap Feb 11

Stocks surge, led by real estate, banks

The VN-Index opened higher on Wednesday and maintained its positive momentum throughout the session, closing up 2.4% at 1,796.9. Market liquidity advanced, with total trading value increasing 12.9% DoD to VND32.2tn (USD1.2bn). The HNX Index followed the same pattern as the VN-Index, posting a milder gain of 0.8% to close at 255.9.

MBB (+4.1%) surged today, fueled by a massive net buying value of VND1.4tn (USD55.0mn) from foreign investors, accounting for 67% of today’s net foreign buying value. This strong performance was driven by news that MBB, along with three other banks, including VCB (+2.5%), VPB (+6.4%) and HDB (+3.7%), received a 50% reduction in its reserve requirement ratio from the State Bank of Vietnam as a reward for supporting the restructuring of weak credit institutions. Adding to this momentum, MB has officially become a founding member of the Ho Chi Minh City International Financial Center (HCMC IFC), with the Chairman outlining a strategic focus on digital banking and high-tech finance to help elevate the city into a regional financial hub.

Most sectors advanced today, led by Real Estate (+4.3%), Banks (+2.9%), and Insurance (+2.9%). Only Utilities (-2.2%) and Chemicals (-0.5%) declined today.

VIC (+6.6%), VPB (+6.4%), and VCB (+2.5%) were the top gainers today, while GAS (-5.3%), GVR (-1.8%), and PLX (-3.0%) led laggards.

Foreign investors net bought today, totaling VND2.1tn (USD81.1mn), focusing on MBB (VND1.4tn, USD55.0mn), VPB (VND161bn, USD6.2mn), and MWG (VND121bn, USD4.7mn). Conversely, foreign net selling took place in VCB (VND169bn, USD6.5mn), FPT (VND104bn, USD4.0mn), and HPG (VND92.3bn, USD3.7mn).

Read the full report: HERE