Vietnam Daily Market Recap September 17 – KDH Update

Stocks fall, led by retail

The VN-Index traded sideways on Wednesday throughout the session and closed down 0.6% at 1,671. Market liquidity decreased, with total trading value down 12.8% compared to Tuesday to VND32.1tn (USD1.2bn). The HNX Index followed a similar pattern, posting a loss of 0.5% to close at 277.6.

Most sectors declined today, led by Retail (-2.5%), Financial Services (-2.2%) and Basic Resources (-1.9%), while Real Estate (+1.8%), Technology (+1.7%) and Telecommunications (+1.0%) gained.

HPA (Hoa Phat Agriculture) has officially filed for an IPO with a plan to offer up to 30 million shares at a price not lower than VND11,887/share. The proceeds will be used to expand farms, feed factories, and working capital, with listing on the Ho Chi Minh Stock Exchange (HoSE) expected in December 2025 under the ticker HPA. In 1H25, HPA posted VND4.3tn (USD163mn) of revenue and VND939bn (USD36mn) of net profit, more than doubling YoY, with full-year 2025 net profit projected at VND1.6tn (USD61mn), and EPS ~VND6,274.

Top performers today included VIC (+6.0%), FPT (+1.9%) and GAS (+2.1%). Top laggards included BID (-2.5%), VCB (-1.2%) and CTG (-2.1%).

Foreign investors net sold today with a total value of VND117bn (USD4.4mn), marking a seventh continuous selling day. Selling pressure was concentrated in MSN (VND141.7bn, USD5.4mn), VPB (VND92.8bn, USD3.5mn) and VHM (VND90.9bn, USD3.4mn). On the other hand, top net buying was seen in HPG (VND215.3bn, USD8.2mn), VNM (VND168.1bn, USD6.4mn) and FPT (VND153.9bn, USD5.8mn).

Read the full report: HERE