VCSC Daily - VN-Index drops below 1,500 points - BID, VEA, KBC, LPB, PVT, REE, VHM

* BID seeks shareholder approval to pay stock dividend using 2019-2020 retained earnings
* VEA: Government announces 50% registration fee reduction for locally assembled automobiles — Positive
* KBC: UA land sales to be key profit driver in 2022F – Update
* LPB: Strong bottom-line growth to continue in 2022 – Update
* PVT: Full-year contribution of new tankers to bolster 2022F – Update
* REE: Looking forward to M&E recovery, further power capacity – Update
* VHM: New batch of mega projects to fuel medium term growth – Update
* Market wrap: VN-Index drops below 1,500 points

----------------------------------------

Market wrap: VN-Index drops below 1,500 points

After experiencing a positive Friday morning, the VN-Index ultimately finished the day down by half of a percent to close at 1,493.03 due to strong profit taking pressure following the index’s 3.7% gain over the previous three days. Nevertheless, the VN-Index gained 2.8% for the week.

* Banks weighed heavily on the index as VCB (-2.0%), CTG (-2.4%), TCB (-2.2%), MBB (-1.9%) and HDB (-3.5%) were among the top contributors to the day’s decline. However, VPB (+3.2%) hit a 20-week high and finished the week up 7.9%.

* SAB (-2.9%) dropped to a one-month low.

* Other notable decliners included GAS (-1.8%) and MWG (-2.4%).

* In the real estate sector, VIC (+4.8%), NVL (+1.6%) DIG (+3.6%) and PDR (+1.7%) posted strong gains. Meanwhile, rubber manufacturer and real estate player GVR (-2.2%) declined.