Vietnam Daily Market Recap Jan 28

Stocks fall, led by Vingroup-related stocks

The VN-Index opened lower on Wednesday and traded in negative territory throughout the session, closing down 1.5% at 1,802.9. Market liquidity increased, with total trading value climbing 20.7% compared to Tuesday to VND29.1tn (USD1.1bn). The HNX Index followed a similar pattern, posting a loss of 0.2% to close at 252.5.

Vingroup stocks were the main drag on the market. VIC (-6.9%) hit its floor price, while VHM (-5.7%) and VRE (-5.8%) also slumped.

Most sectors declined today, led by Real Estate (-4.8%), Banks (-0.8%), Telecommunications (-2.6%) and Chemicals (-2.4%). In contrast, Basic Resources (+2.5%), Technology (+2.1%), Retail (+1.2%) and Utilities (+0.8%) were the main gainers.

Top laggards today included VIC (-6.9%), VHM (-5.7%) and VCB (-1.4%). Top performers included GAS (+2.3%), FPT (+2.4%) and MSN (+3.6%).

Foreign investors net sold today with a total value of VND1.84tn (USD70.5mn), with selling momentum focused on VCB (VND404.5bn, USD15.5mn), VIC (VND371.7bn, USD14.2mn), VNM (VND240.1bn, USD9.2mn) and ACB (VND207.3bn, USD7.9mn), while foreigners mainly bought FPT (VND343.0bn, USD13.1mn), GAS (VND157.8bn, USD6.0mn) and MSN (VND87.4bn, USD3.3mn).

Read the full report: HERE