Vietcap Daily - Banks sector drives VN-Index up 0.5% - VHM, ACV, BVH, GAS, GVR, HDC, HDG, HPG, HVN, NVL, PC1, PHR, PLX, PVD, PVT, REE, SAB, VIC, VJC, VNM, VTP, MCH, DRI, VCG
  • 2024-10-31T00:00:00
  • Market Commentary

* VHM: Seeking written shareholder approval for up to USD500mn international bond listing on foreign exchange

* ACV: Bad debt provisions cool down; FX losses weigh on earnings - Earnings Flash

* BVH: Earnings track in line with our expectations - Earnings Flash

* GAS: Strong LPG segment outweighs weak natural gas volume in Q3, in line with our forecast - Earnings Flash

* GVR: High rubber prices drive 9M 2024 profit growth – Earnings Flash

* HDC: YoY drop in Ngoc Tuoc 2 deliveries results in 9M earnings decline – Earnings Flash

* HDG: Solid hydropower earnings offset by Charm Villa sales launch delay, impacting our 2024F earnings projection – Earnings Flash

* HPG: Earnings marginally beat forecast; weaker QoQ performance due to lower steel sales - Earnings Flash

* HVN: Positive earnings continue in Q3 2024 - Earnings Flash

* NVL: Profitable Q3 follows audited H1 2024 loss; 9M 2024 continues showing net loss – Earnings Flash

* PC1: Stronger-than-expected nickel boosts earnings beyond forecast, upside potential evident - Earnings Flash

* PHR: 9M 2024 earnings decline due to minimal IP land handovers, compensation income – Earnings Flash  

* PLX: Weak Q3 earnings due to high input sourcing costs amid oil price volatility - Earnings Flash

* PVD: 9M 2024 recurring NPAT-MI surges 47% YoY due to higher day rates, trailing expectations – Earnings Flash & AM note

* PVT: Strong 9M results; 2024 capex projected 70% above forecast, upside evident - Earnings Flash

* REE: Slower-than-expected sales recognition from real estate segment, downside risk apparent – Earnings Flash

* SAB: Earnings growth mainly driven by optimized A&P expenses - Earnings Flash

* VIC: Completed SDI stake sales, increasing EV deliveries, strong property sales in Q3 - Earnings Flash & Analyst Meeting Note

* VJC: Q3 earnings surge due to recovery of air transportation revenue, profitability expansion – Earnings Flash

* VNM: Earnings slip by single digit; overseas revenue grows by high single digit - Earnings Flash

* VTP: Modest Q3 earnings growth despite strong services revenue gain – Earnings Flash

* Masan Consumer Corporation (UpCOM: MCH): Premiumization and innovation are key growth drivers - Analyst Meeting Note

* Vietnam Macro Note: Vietnam sets ambitious economic plan for 2026-2030

* DRI: Rubber price rally to support DRI’s core earnings - Visit Note

* VCG: Well-placed to benefit from public infrastructure investment - Visit Note

* Market wrap: Banks sector drives VN-Index up 0.5%

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Market wrap: Banks sector drives VN-Index up 0.5%

On Thursday, the VN-Index rose 0.5% (+5.9 pts) to close the trading day at 1,264.5. The banks sector drove the index's gain, with six banks among the top-ten stocks contributing positively to the market. Throughout the index, there were 199 gainers, 169 laggards, and 67 stocks that were unchanged. Total trading volume jumped compared to the previous trading day to USD715.7mn. 

* The previously mentioned bank stocks were VCB (+2.1%), CTG (+2.7%), VPB (+0.9%), ACB (+1.2%), LPB (+1.2%), and STB (+1.2%). TCB (-0.4%) and HDB (-1.1%) declined.  

* The next leading sector was consumer services, as HVN (+4.0%), MWG (+0.8%), VJC (+1.1%), and FRT (+1.5%) gained.  

* The consumer goods sector most weighed on the market, with MSN (-1.9%), VNM (-0.3%), PNJ (-0.7%), and BHN (-1.5%) falling.  

* Market leaders from other sectors included real estate companies VIC (+1.3%), VHM (+0.9%), and BCM (+1.1%), as well as rubber producer GVR (+0.6%) and securities company SSI (+0.9%).

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