Vietcap Daily - VN-Index declines 0.4%; large-cap real estate, securities stocks plunge - BWE, CTR, DRC, BAF
  • 2024-10-16T00:00:00
  • Market Commentary

* BWE: 9M 2024 core NPAT completes 67% of full-year forecast, broadly in line with expectation

* CTR’s preliminary 9M 2024 results slightly trail our forecasts

* DRC to potentially benefit from US final anti-dumping decision on Thai truck and bus tires 

* Vietnam Macro Note: Economic growth drives strengthened labor market

* BAF: “Feed-Farm-Food” business approaching high growth phase - Visit Note

* Market wrap: VN-Index declines 0.4%; large-cap real estate, securities stocks plunge 

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Market wrap: VN-Index declines 0.4%; large-cap real estate, securities stocks plunge 

The VN-Index declined 0.4% (-5.3 pts) on Tuesday to close the trading day at 1,281.1. Several large-cap real estate and securities stocks plunged while heavily weighing on the market. Throughout the index, there were 105 gainers, 280 laggards, and 51 stocks that were unchanged. Total trading volume declined compared to the previous trading day to USD665.5mn. 

* Real estate stocks VHM (-1.5%), VIC (-1.2%), VRE (-1.8%), and KDH (-1.3%) sharply fell. BCM (-0.7%) also declined.  

* In the securities sector, SSI (-1.5%), VND (-2.3%), HCM (-2.1%), and VCI (-1.9%) turned in poor performances.  

* A few banks helped ease downward pressure on the market, including BID (+1.2%), VPB (+0.9%), CTG (+0.3%), and VIB (+0.8%). VCB (0.0%) was unchanged and TCB (-0.4%) and MBB (-0.8%) lost value.  

* Laggards from other sectors that had a strong negative impact on the index were rubber producer GVR (-1.5%), oil & gas company PLX (-3.6%), tech company FPT (-0.4%), and milk producer VNM (-0.6%).

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