Vietcap Daily - Bank stocks help VN-Index to recover - PNJ, KDH, VCB
  • 2023-08-21T00:00:00
  • Market Commentary

* Power sector: 7M 2023 CGM price up 20% YoY; EVN warns of power shortage in 2024
* PNJ’s 7M 2023 results: Retail sales recover 15% MoM in July; net profit flat YoY in 7M 2023
* KDH: New project launches to drive 2024F profit growth - Update  
* VCB: Well positioned for growth when economy recovers - Update
* Market wrap: Bank stocks help VN-Index to recover

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Market wrap: Bank stocks help VN-Index to recover

The VN-Index recovered by a tenth of a percent on Monday as the strong performance of the banking sector lifted the market to a minimal gain following its 4.5% plunge last Friday. 

* Nearly all banks finished higher, led by BID (+3.2%), CTG (+4.2%), LPB (+6.3%), VPB (+1.0%), STB (+1.6%) and TPB (+2.2%). 

* Over the last three trading days, VIC (-1.6%) and VHM (-1.4%) have plummeted 13% and 11%, respectively. Meanwhile, Vingroup subsidiary VRE (+1.4%) climbed following its 7.6% drop over the previous two sessions. 

* GVR (-2.8%) fell for the fifth consecutive session. 

* GAS (+1.5%) posted its first gain since August 10.

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