Vietcap Daily - VN-Index gains 1.2%, led by banks - BWE, TDM, DRC, NLG, TV2, HPG, NT2, POW, PPC, QTP
  • 2024-05-16T00:00:00
  • Market Commentary

* Water sector – BWE & TDM 4M prelim results are in line with expectations

* DRC: US issues preliminary anti-dumping decision on truck and bus tires from Thailand

* NLG: Ex-rights date of May 29 for FY2023 cash dividend of VND499/share

* TV2 - Toyo Ventures Holding Berhad (TVHB) – Song Hau 2’s investor announces its shares issuance to loan creditors

* Thermal Power Sector Update: Robust power consumption to boost CGM price

* HPG: Q1 results support high growth outlook for 2024/25 - Update

* NT2: Higher sales volume, one-off income to reduce 2024F loss - Update

* POW: Robust nationwide power demand to boost earnings recovery - Update

* PPC: Sustained strong earnings ahead following surge in Q1 2024 - Update

* QTP: Higher fixed component, low-cost advantage boost earnings - Update

* Market wrap: VN-Index gains 1.2%, led by banks

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Market wrap: VN-Index gains 1.2%, led by banks

On Thursday, the VN-Index gained 1.2% (+14.4 pts) to close the trading day at 1,268.8. Banks was the sector that had by far the most positive impact on the index. There were more than double the number of gaining stocks (300) than decliners (129) in the market, while 80 stocks were unchanged. Total trading volume increased to USD892.2mn.  

* Banks VCB (+1.8%), TCB (+3.7%), BID (+2.1%), CTG (+2.6%), LPB (+6.8%), VPB (+1.8%), MBB (+2.2%), ACB (+1.99%), and HDB (+2.98%) made up nine of the top ten stocks lifting the index.  

* Real estate was the second leading sector as VIC (+0.9%), SIP (+4.5%), VRE (+1.3%), and NLG (+3.8%) posted gains. VHM (0.0%) was unchanged and BCM (-0.9%) declined.  

* Other market leaders were steel maker HPG (+1.3%), technology company FPT (+0.97%), utility GAS (+0.5%), oil & gas company PVD (+2.2%), and electrical engineering company REE (+3.0%).  

* Laggards of note from various sectors were rubber producer GVR (-0.6%), beer brewer SAB (-0.2%), fish exporter VHC (-1.1%), retailer MWG (-1.5%), and utility PGV (-1.7%). 

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