Vietcap Daily - VN-Index falls 1.9% on Wednesday

* PVD’s AGM Documents: Conservative guidance with 33% YoY decrease in 2024 PBT despite favorable market outlook
* FRT: Plan for private placement of up to 10% for Long Chau – AGM Notes
* VHC: Management remains cautious in 2024 earnings outlook - AGM Notes
* DRC: Profitability improves YoY yet export demand remains weak - Earnings Flash
* SZC: Net profit jumps 5.5x YoY in Q1 2024, in line with our expectation - Earnings Flash
* Data Centers Sector - Poised for hyper-growth in the long run
* Market wrap: VN-Index falls 1.9% on Wednesday

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Market wrap: VN-Index falls 1.9% on Wednesday

The VN-Index fell 1.9% (-22.7 pts) on Wednesday, closing the trading day at 1,193.01. For the second day this week, banks led the index’s decline, with six of the top ten stocks pushing the market down hailing from this sector. Throughout the index, there were 137 gainers, 348 laggards, and 57 stocks that were unchanged. Total trading volume decreased sharply to USD751.4mn.

* BID (-4.4%), CTG (-3.96%), VPB (-3.2%), MBB (-3.4%), VCB (-0.6%), and TCB (-1.4%) were the six banks mentioned above. LPB (+3.3%) and SSB (+0.2%) posted gains.

* Real estate performed poorly for the third day running. VIC (-3.0%), VHM (-2.1%), and BCM (-2.3%) significantly declined, while NVL (-4.4%), KBC (-3.6%), and PDR (-3.95%) plunged. VRE (-0.9%) and KDH (-0.7%) also lost value.

* Some of the leading stocks in other sectors were food & beverage conglomerate MSN (+1.1%), logistics company GMD (+2.7%), milk producer VNM (+0.3%), fumigation company VFG (+6.98%), and insurance firm PGI (+6.1%).

* Notable other decliners were rubber producer GVR (-5.6%), GAS (-1.2%), jewelry retailer PNJ (-3.6%), steel maker HPG (-1.2%), breer brewer SAB (-1.5%), airlines VJC (-2.5%) and HVN (-3.3%), and electrical equipment company GEX (-4.1%).