VCSC Daily - VN-Index drops for third straight session as banks continue to slump - VNM, AST, BID, CTG, DHG, GDT, GEG, NLG, PC1, PVD, QNS, VCB, VIB, VRE

* VNM: Subsidiaries GTN, VLC to merge via share swap; VLC to establish joint venture in cattle farming with Japanese partner Sojitz
* AST: Prospects of recovery in 2022F thanks to flight resumption – Update
* BID: Raising target price on higher forecast NII – Update
* CTG: Attractive valuation relative to peers – Update
* DHG: Still on course for stable growth – Update
* GDT: Strong recovery outlook post-2021 already priced in – Update
* GEG: Looking forward to strong earnings growth in 2022 – Update
* NLG: Launch of new project Izumi City to drive pre-sales outlook – Update
* PC1: Awaiting significant new updates on project pipeline – Update
* PVD: Fair valuation despite robust 2022F earnings outlook – Update
* QNS: Soy milk to lead 2022F growth – Update
* VCB: VCB continues to tread water before 2022 capital raising – Update
* VIB: Stronger NIM counteracts pressure on credit cost – Update
* VRE: Mall opening plan resumes; earnings to recover in 2022F – Update
* Market wrap: VN-Index drops for third straight session as banks continue to slump

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Market wrap: VN-Index drops for third straight session as banks continue to slump

The VN-Index fell four tenths of a percent on Tuesday, marking its third straight negative session as investor sentiment continued to be dampened by the downturn of global markets due to the emergence of the Omicron variant of COVID. However, the VN-Index recorded its fourth consecutive positive month as it finished November up 2.4%.

* Banks continued their recent downtrend — led by VCB (-2.2%), CTG (-2.0%), VPB (-1.8%), MBB (-2.7%), ACB (-2.5%), VIB (-3.3%) and OCB (-5.4%) — as investors offloaded shares due to uncertainty regarding the outlooks of banks amid the ongoing pandemic.

* MSN (-2.2%) has dropped 5.3% over the past two days.

* GAS (-1.1%) declined for its third session in a row, slumping to its lowest share price since September 30.

* On the positive side, GVR (+5.4%) was the day’s top contributor among gainers. In addition, GEX (+6.1%) and VGC (+7.0%) both surged while DXG (+6.9%) soared to an all-time high.