Vietnam Daily Market Recap November 29, 2024 – VTP, PNJ, PVS & DCM Update

Market commentary: Stocks advance, led by insurers

The VN-Index broke out of a two-day lull on Friday and closed up 0.7% at 1,250.5. Total trading value increased 21.1% DoD to VND13.5tn (USD532.6mn). The HN-Index closed up 0.5% at 224.7.

Insurance stocks were outstanding performers today, including BVH (+7.0%), MIG (+6.8%), PTI (+4.3%), BIC (+5.3%), BMI (+4.4%), VNR (+3.1%) and ABI (+3.2%). BVH announced a cash dividend payment with a ratio of 10%, scheduled for December 20. Meanwhile, on November 26, MIG announced a public offering of additional shares at an issuance ratio of 15%, with an expected volume of 26 million shares. Additionally, deposit rates at some banks have increased in November, which is expected to benefit insurance companies with a significant portion of their investment portfolios in deposits.

Banks (+0.6%), Food & Beverage (+1.5%), Industrial Goods & Services (+0.8%), Telecommunications (+3.3%), Financial Services (+0.5%) and Chemicals (+0.3%) were sectors that also showed gains today. Conversely, Real Estate (-0.2%) and Utilities (-0.3%) declined.

FPT (+3.5) reached its all-time high today at VND144,300/share. This stock was mainly bought by foreign investors this week.

DBD (+6.8%) continued to be a stellar performer in today’s session after reaching its ceiling price yesterday. DBD is in the process of upgrading two production lines to meet EU-GMP standards, with plans to submit the application in 2025 and complete procedures in 2026. Upon completion, the anti-cancer drug products will be eligible to participate in the bidding for Group 1 and 2 medicines, which have higher selling prices. In addition, the company is also planning to conduct a private placement for strategic investors to fund the construction of two new EU-GMP manufacturing plants.

Foreign investors continued to net buy today (VND334bn, USD13.2mn) with focused buying momentum on FPT (VND237.9bn, USD9.4mn). They also bought MSN (VND88.8bn, USD3.5mn), HPG (VND72.6bn, USD2.9mn), CTR (VND64.3bn, USD2.5mn) and PNJ (VND54bn, USD2.1mn). In contrast, they sold VRE (VND74.2bn, USD2.9mn), VHM (VND53.3bn, USD2.1mn) and HDB (VND46.5bn, USD1.8mn).

For the week, both the VN-Index (+1.8%) and the HNX-Index (+1.5%) rose. Foreign investors net bought the whole week with a net buying value of VND1tn (USD39.5mn). Total trading value decreased 14.4% compared to last week, averaging VND12.3tn (USD485.3mn).

For the month, both the VN-Index (-0.9%) and the HN-Index (-0.4%) declined. Foreign investors extended their selling momentum, with total net selling value of VND12tn (USD473.4mn), 22.2% higher than last month. Total trading value decreased 11.5% MoM, averaging VND14.2tn (USD560.2mn).

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