- 2024-03-18T00:00:00
- Market Commentary
* MBB completes issuing 73mn shares (approximately 1.38 % post-issuance stake) to Viettel Group and SCIC
* REE sets 2024 NPAT guidance 5% higher than our forecast
* VHC: 42% YoY revenue growth in 2M 2024 from low base
* VIC: Selling 100% stake in SDI (which effectively owns 41.5% interest in VRE)
* HSG: FY2024 guidance with strong profit growth from FY2023's low base - AGM Note
* Market wrap: VN-Index falls 1.6% as losses seen across sectors
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Market wrap: VN-Index falls 1.6% as losses seen across sectors
On Monday, the VN-Index fell 1.6% (-20.2 pts) to close the trading day at 1,243.6. Losses were seen across sectors and only two members of the large-cap VN30 group made gains. The market was largely dragged down by banks and basic materials, while real estate advanced. In total, there were 407 laggards, 103 gainers, and 49 stocks that were unchanged. Total trading volume increased significantly to USD1.7bn.
* Banks CTG (-4.2%), VCB (-1.1%), TCB (-3.1%), and VPB (-2.4%) were the top decliners in the sector.
* In basic materials, rubber producer GVR (-5.9%) had the most negative impact of any stock on the index and chemical company DGC (-6.9%) also plunged. Steel maker HPG (-1.7%) and fertilizer producer DCM (-3.9%) slid. One strong performance in the sector was mining company TNT (+6.8%).
* In real estate, VIC (+3.8%) surged and subsidiary VRE (+6.99%) soared. DIG (+6.8%) and PDR (+3.6%) also posted large gains. VHM (-0.7%) decreased while BCM (-4.3%), KBC (-4.5%), and SIP (-3.2%) tumbled.
* Some of the notable laggards in other sectors were milk producer VNM (-1.3%), securities company SSI (-3.0%), retailer MWG (-3.1%), power and mechanical & electrical building services company REE (-3.6%), and technology company FPT (-2.6%).
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