VCSC - VN-Index falls to seven-week low, drops 2.6% for week - POW, STK, VNG
  • 2022-03-10T00:00:00
  • Market Commentary

• Domestic petroleum prices hit record highs  

• POW: Weak earnings; Samsung C&T and LILAMA win Nhon Trach 3 & 4 EPC contract  

•  STK’s 2022 AGM documents: Company’s guidance signals strong business momentum, raising capital for capacity expansion

• VNG: Earnings to rebound as Vietnam eyes full reopening - Company Visit Note

• Market wrap: VN-Index falls to seven-week low, drops 2.6% for week

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Market wrap: VN-Index falls to seven-week low, drops 2.6% for week 

The VN-Index fell eight tenths of a percent on Friday and slumped to a seven-week low of 1,466.54 after local authorities announced that gasoline prices would be increased to record-high levels. Moreover, the VN-Index decreased by 2.6% for the week, marking its largest weekly loss since the first week of January. 

  • In the oil & gas sector, GAS (-4.7%) and PLX (-5.4%) respectively dropped 7.6% and 7.9% over the last two days. 
  • MSN (-5.0%) finished the week down 11.7%. 
  • Other notable large-cap decliners included HPG (-3.1%), GVR (-2.9%) and SAB (-1.9%). 
  • On the positive side, a handful of banks posted gains, including BID (+2.2%), MBB (+1.3%), EIB (+3.2%), STB (+1.6%) and HDB (+1.3%). 
  • Fertilizer producers DPM (+3.9%) and DCM (+3.7%) increased. 

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