* BWE: H1 2024 preliminary results roughly in line with our forecast

* VEA: Passenger car retail sales advanced 15% YoY while Honda motorbike sales remained muted in Q2 2024

* Market wrap: Market declines on weak performance of Banking stocks

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Market wrap: Market declines on weak performance of Banking stocks

The VN-Index lost 0.5% and closed the trading day at 1,283.8. The market’s downturn was led by the Banking sector and the large cap VN30 basket recorded 18 laggards. Throughout the VN-Index, there were 242 gainers and 198 laggards. Buying activity was focused on mid and small cap stocks. Total turnover was VND18,519bn (USD728mn).  

* The Banking sector continued to be the biggest contributor to the index’s loss due to declines from VCB -0.6%, TCB -1.5%, VPB -0.8% and CTG -0.6%.  

* Materials remained in the top three market laggards due to losses from DCM -3.7%, HPG -0.3%, HSG -1.8% and DPM -1.6%. 

* Consumer Goods also negatively impacted the Index due to declines from large cap stocks, including MSN -1.3% and VNM -0.7%. Meanwhile, mid cap stocks such as PAN +2.0%, ASM +2.2% and ANV +1.4 showed good performance.  

* Technology stocks continued to lose strength, including FPT –0.7% and CMG -1.5% 

* Real Estate outperformed the market thanks to gains from VIC +1.2%, VHM +0.5%, KDH +1.7% and NVL +1.9%.  

* Financial Services also gained strength, with gains from SSI +1.3%, VND +1.5%, VCI +1.7% and HCM +1.4%.  

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