VCSC Daily - Hot bank stocks not enough to lift VN-Index into positive territory - MWG, PNJ, VIB, CTR, GEX, PHR, PLX, POW, TLG
  • 2021-11-22T00:00:00
  • Market Commentary

* MWG: TGDD and DMX post stellar October results thanks to MWG’s strong execution, easing social distancing restrictions – BUY
*  PNJ – Retail sales resume growth in October 2021; results in line
*  VIB’s shareholders approve capital raising plan through rights issue  
*  CTR: On track to become Vietnam's No.1 towerco by YE2021 – Update
*  GEX: Expecting strong earnings growth; valuation expensive – Update
*  PHR: Major project VSIP III to be realized in 2022F – Update
*  PLX: Demand recovery to fuel strong 2022F earnings growth  - Update
*  POW: Vung Ang technical issue hinders 2022F EPS recovery – Update
*  TLG: Sales rebound, resilient margins to drive 2022F earnings - Update
*  Market wrap: Hot bank stocks not enough to lift VN-Index into positive territory

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Market wrap: Hot bank stocks not enough to lift VN-Index into positive territory 

The VN-Index declined three tenths of a percent on Monday as investors offloaded shares of property stocks that have been on recent hot streaks in order to secure profits. 

*  GVR (-5.6%) was the top contributor to the day’s loss and has fallen in six out of the past seven trading sessions. 

*  GAS (-3.7%) and PLX (-5.9%) slumped following the decline of global oil prices. 

*  GEX (-7.0%) and DIG (-7.0%) plummeted to the daily trading floor following their recent hot streaks. 

*  Real estate players BCM (-5.4%), KBC (-7.0%) and KDH (-6.3%) dropped. 

*  On the positive side, the banking sector surged — led by CTG (+5.2%), VCB (+1.7%), BID (+2.6%), VIB (+2.6%), HDB (+6.9%), TPB (+6.9%), MBB (+3.2%) and TCB (+1.5%) — as investors are hopeful that the recent increase of credit growth caps will help to bolster the performance of banks.

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