VCSC Daily - Banks drive VN-Index to 1.1% gain - GDT, AST, BID, BSR, CII, HDB, TPB

• Restrictions to contain COVID-19 continue to disrupt economic activity in August

• Rising food & foodstuff prices fuel inflation in August

• GDT to pay cash dividend of VND2,000/share (3.6% yield) in addition to stock dividend in Q4 2021

• AST: Fourth wave of COVID-19 clouds recovery prospects – Update

• BID: SME exposure prompts higher provision projections – Update

• BSR: Facing headwinds in Q3; expecting recovery in 2022 – Update

• CII: Attractive valuation despite short-term challenges – Update

• HDB: Parent bank continues to drive consolidated earnings – Update

• TPB: Bumper H1 absorbs our provision forecast increase - Update

• Market wrap: Banks drive VN-Index to 1.1% gain

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Market wrap: Banks drive VN-Index to 1.1% gain

The VN-Index had a strong start to the week, gaining 1.1% on Monday as investors bought up banking stocks following a down week.

Bank tickers were up across the board. Notably, CTG (+3.7%), VCB (+1.5%), TCB (+2.4%), BID (+1.9%), LPB (+6.9%), MBB (+1.4%), STB (+2.2%) and EIB (+3.7%) were all among the day’s top 10 contributing gainers.
Steelmaker HPG (+2.3%) rebounded after dropping in its last two trading sessions.
Insurer BVH (+3.0%) climbed to a three-week high.
On the negative side, MSN (-2.4%) was the leading contributor among decliners.