Vietcap Daily - Market witnessed massive selloffs on Monday - STK, AGG
  • 2024-06-24T00:00:00
  • Market Commentary

* STK revised down 2024 guidance
* Vietnam Macro Note: Vietnam remained on the US Currency Monitoring list
* AGG: Mid-end, affordable housing developer in southern Vietnam - Visit Note
* Market wrap: Market witnessed massive selloffs on Monday


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Market wrap: Market witnessed massive selloffs on Monday

The VN-Index plummeted by 2.2% on Monday and closed at a one-month low. Selling pressure increased strongly across sectors, lifting the turnover on HOSE to VND31,815 billion (USD1.25 bn) with 378 losers to 74 gainers.  

* The banking sector was the biggest contributor to the VN-Index’s losses with declines from VPB, TCB and BID, followed by GVR (Basic Materials) and HVN (Consumer Services).  

* Oil and Gas stocks fell sharply, including GAS, PVD, PVS and PVT.  

* FPT dropped 2.9%, leading a correction in the Technology sector as foreign investors were net seller of FPT by VND590 billion (USD23 mn).  

* Some mid-caps in the Real-Estate sector gained and outperformed the VN-Index, including KBC, DIG, DXG and PDR.

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