Vietcap Daily - VN-Index drops 1.96% on Thursday - NLG, GEX, HPG, HVN, DGC, NVL, TNH
  • 2024-08-02T00:00:00
  • Market Commentary

* Fed keeps interest rate unchanged, signaling cut is imminent

* PMI data signals ongoing solid improvement in manufacturing sector

* NLG: Handovers at Akari City Phase 2 and Can Tho projects to drive H2 2024 earnings

* GEX: Higher-than-expected divestment gain, significant electrical equipment GPM expansion to drive earnings jump; upside evident – Earnings Flash

* HPG: Strong Q2 earnings on solid volume recovery - Earnings Flash

* HVN: Strong recovery in transportation business, payables cancellation futher supports earnings - Earnings Flash

* DGC: Gradual ASP recovery, chlor-alkali construction in Q4 2024 - Update

* NVL: Debt restructuring the main focus; addressing legal and construction issues requires time - Visit Note

* TNH: Higher fees, new TNH Viet Yen hospital to support revenue - Visit Note

* Market wrap: VN-Index drops 1.96% on Thursday

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Market wrap: VN-Index drops 1.96% on Thursday

On Thursday, the VN-Index dropped 1.96% (-24.6 pts) to close the trading day at 1,226.9. Only two of the thirty large-cap VN30 group gained (banks VCB and SSB). Throughout the index, there were 45 gainers, 423 laggards, and 38 stocks that were unchanged. Total trading volume significantly increased compared to the previous trading day to USD848.1mn. 

* Banks VCB (+1.7%) and SSB (+0.7%) were the only large-cap gainers in the index. MBB (-4.1%), BID (-1.7%), VPB (-2.4%), and CTG (-1.7%) plunged.  

* Basic materials was the sector weighing the most on the index as GVR (-4.9%), DGC (-5.4%), and DCM (-3.9%) plummeted and HPG (-1.8%) posted a notable loss. 

* In real estate, VIC (-0.5%) and VHM (-0.7%) declined while BCM (-6.99%), VRE (-2.2%), KDH (-4.0%), and NVL (-5.5%) fell sharply.  

* Other noteworthy laggards were technology company FPT (-2.95%), food & beverage conglomerate MSN (-3.1%), milk producer VNM (-1.8%), utility company GAS (-1.3%), oil & gas company PLX (-1.3%), and retailer MWG (-2.7%).

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