VCSC Daily - VN-Index continues to rise - VPB, CTR, GVR, PTB
  • 2022-11-29T00:00:00
  • Market Commentary

* November’s economic results: Trade declines, retail sales remain positive
*  VPB receives USD150mn offshore loan disbursement from IFC
*  Galvanized Steel Sector Update: Strong HRC price correction, demand slowdown hit 2022; margins to rebound in 2023F
*  CTR: Towerco continues to lead growth; construction to slow – Update
*  GVR: Lower valuation to reflect slower land conversion outlook - Update
*  PTB: Weak customer orders to weigh on near-term earnings – Update
*  Market wrap: VN-Index continues to rise

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Market wrap: VN-Index continues to rise 

The VN-Index continued to rally, increasing 2.6% on Tuesday as trading turnover on HOSE climbed to a 12-week high of USD737.4mn. 

*  VIC (+6.8%) was the top contributor to the day’s gain. In addition, Vingroup subsidiaries VHM (+5.8%) and VRE (+4.1%) have respectively jumped 19.6% and 16.6% over the last four trading days. 

*  Banks VCB (+4.0%) and BID (+3.8%) increased.  

*  Steelmaker HPG (+6.4%) has gained more than 26% over the last four sessions. 

*  MWG (+6.6%) has advanced 13.2% so far this week. 

*  NVL (+6.8%) increased for the first time since October 25.


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