- 2024-02-28T00:00:00
- Market Commentary
* VCB, CTG plan to pay stock dividend using 2022 retained earnings, subject to authorities’ approval
* STB: To complete restructuring in 2024F - Update
* Market wrap: VN-Index gains for third consecutive day led by strength in VN30 stocks
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Market wrap: VN-Index gains for third consecutive day led by strength in VN30 stocks
The VN-Index gained 1.4% (+17.1 pts) on Wednesday to close at 1,254.6. This was the third consecutive day that the index has increased. The advancement was led by the VN30 group of large-cap stocks, which had only two decliners. In total, there were 309 gainers, 180 laggards, and 67 stocks that were unchanged. Total trading volume decreased to USD921.8mn.
* By far the biggest contributor to the market’s advancement was bank VCB (+6.9%). VPB (+2.8%), BID (+1.7%), ACB (+1.5%), STB (+2.1%), and HDB (+2.2%) also posted stong gains. CTG (-0.6%) was the only declining stock in the sector.
* In real estate, VIC rose by 1.0% and VHM by 0.5%, while VRE continued its upward trend with a gain of 5.3%. BCM (+0.2%) and KBC (+0.5%) also increased. All other stocks in the sector experienced a decline in value.
* In oil & gas, PVD (+6.9%) soared and PLX (+1.5%) had a strong performance.
* Other noteworthy stocks that increased were beer brewer SAB (+2.5%), logistics company TMS (+4.95%), infrastructure & electricity company REE (+3.6%), retailer MWG (+1.2%), and steel maker HPG (+0.8%).
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