Vietcap Daily - Vingroup stocks lead VN-Index to 1.3% gain - AST, BSR, CTD, CTG, DIG, DPM, FRT, GMD, HDB, HDG, HPG, HSG, IDC, KBC, KDH, MBB, MWG, NKG, NVL, PC1, REE, SIP, VCB, VEA, VIC
  • 2023-07-31T00:00:00
  • Market Commentary

* External merchandise trade and production show improvement in July
* AST: Q2 only improves slightly vs Q1, trailing our expectations – Earnings Flash
* BSR: Weak Q2 results slightly trail our forecast; NPAT lower QoQ – Earnings Flash
* CTD: Gross margin improves QoQ, but EBIT continues to fall in Q2 - Earnings Flash
* CTG: Strong top-line growth makes room for high provisioning – Earnings Flash
* DIG: Sluggish property handovers drag H1 2023 earnings -  Earnings Flash  
* DPM: Weak H1 2023 results due to low urea price, high input cost – Earnings Flash  
* FRT: Pharmacys profitability improves, but ICT loss drags Q2 earnings - Earnings Flash
* GMD: Q2 core business flat QoQ; divestment gain supports NPAT-MI – Earnings Flash  
* HDB: Strong deposit growth; asset quality deteriorates – Earnings Flash  
* HDG: Weak Q2 results; H1 2023 results in line with our expectations - Earnings Flash
* HPG: Q2 NPAT-MI improves significantly QoQ; H1 trails our forecast – Earnings Flash
* HSG: Q3 FY2023 NPAT-MI declines QoQ; 9M FY2023 results trail our forecasts - Earnings Flash
* IDC: Slow IP land handovers in H1; new IP land sales remain positive - Earnings Flash
* KBC: Upbeat IP land sales drive H1 2023 profit growth - Earnings Flash
* KDH: Q2 earnings decline YoY mainly due to higher tax expenses – Earnings Flash  
* MBB: Robust performance with QoQ improvement in asset quality – Earnings Flash  
* MWG: BHX's margin ahead of our forecasts, but others track behind - Earnings Flash
* NKG: Profit turnaround in Q2; H1 2023 results trail our forecasts – Earnings Flash
* NVL: Another quarterly loss in Q2; continued bond restructuring - Earnings Flash
* PC1: Disappointing Q2; H1 2023 results trail our forecast – Earnings Flash  
* REE: H1 2023 results in line with our expectations – Earnings Flash  
* SIP: Positive IP land sales and cash collection progress in Q2 - Earnings Flash
* VCB: Reversal of provision expenses for interbank loans continues – Earnings Flash
* VEA: Profitability improves QoQ in Q2, in line with our expectations - Earnings Flash
* VIC: EV deliveries improve QoQ, driven by B2B strategy - Earnings Flash
* Market wrap: Vingroup stocks lead VN-Index to 1.3% gain

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Market wrap: Vingroup stocks lead VN-Index to 1.3% gain

The VN-Index had a strong start to the week, closing up by 1.3% on Monday as the Vingroup family of stocks surged. In addition, the VN-Index closed the month of July with a 9.2% gain.

* VHM (+7.0%) and its parent company VIC (+7.0%) both hit the daily trading ceiling and were the top two contributors to the day’s gain. Moreover, Vingroup’s other listed subsidiary VRE (+2.9%) finished higher. 

* In the oil & gas sector, both GAS (+2.1%) and PLX (+3.6%) advanced. 

* Banks ACB (+3.4%), BID (+1.1%) and CTG (+1.7%) climbed. Meanwhile, VCB (-1.5%) was the day’s top contributing laggard. 

* Retailers MWG (-1.5%) and FRT (-2.4%) declined.

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