Vietnam Daily Market Recap February 12, 2025 – Bond report for 2024

Stocks edged down, led by banks

The VN-Index started the session on a positive note but traded cautiously throughout the day amid rising concerns over escalating geopolitical tensions in the Middle East. By the end of the session, the index edged down by 0.1% to 1,266.9, with liquidity declining. Total trading value for the day fell by 20% to VND10.1tn (USD394.6mn). In contrast, the HN-Index increased 0.2% to 229.3.

Most sectors saw little movement today. The sectors with the most significant negative impact on the index included Banks (-0.5%), Travel & Leisure (-0.6%), and Technology (-0.2%). In contrast, Insurance (+2.0%), Real Estate (+0.3%), Food & Beverage (+0.3%), and Oil & Gas (+0.2%) posted gains for the session.

The Insurance sector (+2.0%) posted strong gains today, as speculation grew over a potential state divestment. Notable performers included BVH (+3.2%), MIG (+3.5%), and BIC (+4.1%). Investors appeared to be positioning ahead of a potential reduction in government ownership, which, if realized, could unlock significant value and enhance corporate governance across the sector. In particular, BVH attracted strong interest following comments from its management during the 2024 Annual General Meeting, where they announced plans to develop and present a proposal to shareholders for reducing the State’s ownership stake starting from 2026.

GEE (+6.9%) ceiling-up today, extending its strong upward momentum with a 57% gain year-to-date in 2025. This rally may be driven by the company’s robust financial performance in 2024, which exceeded expectations and delivered impressive revenue and profit growth. Specifically, GEE reported a 27% increase in revenue to VND21.1tn (USD824.4mn), while net profit surged 116% to VND1.7tn (USD66.4mn) . Notably, in 4Q24 alone, net profit skyrocketed by 430% YoY to VND646.5bn (USD25.3mn).

Foreign investors net sold with a net selling value of VND409bn (USD16.0mn). The most heavily sold stocks were MWG (VND111.7bn, USD4.4mn), HPG (VND50.6bn, USD2.0mn), and VHM (VND4.6bn, USD1.8mn). Conversely, they bought VNM (VND51.9bn, USD2.0mn), VCG (VND51.1bn, USD2.0mn), and VTP (VND35.1bn, USD1.4mn).

Today’s top laggards included BID (-1.1%), VCB (-0.4%) and MBB (-1.3%). Top gainers included BVH (+3.2%), VNM (+1.0%) and LPB (+1.0%).

Read the full report: HERE