* Fitch Ratings upgrades Vietnam’s credit rating to ‘BB+,’ Outlook Stable
* Water Sector: BWE’s conservative 2023 preliminary NPAT slightly trails our forecast, while TDM’s preliminary 11M 2023 NPAT marginally beats our forecast
* POW/NT2: 11M 2023 sales volume trails our full-year forecasts; downside risks to our 2023F NPAT-MI projections
* Market wrap: VN-Index marginally increases 0.1%

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Market wrap: VN-Index marginally increases 0.1%

The VN-Index marginally increased 0.1% (+1.1 pts) to close at 1,125.5. The real estate and food & beverage sectors led the way with respective gains of 1.3% and 1.2%. The banking sector weighed on the market, falling 0.7%. Total trading volume declined to USD606.2mn.

* Real estate stocks VHM (+3.4%), VIC (+2.6%), and VRE (+1.3%) surged and had a strong, positive impact on the market. However, KDH (-1.1%) declined and PDR (-3.1%) sharply dropped.  

* Food & beverage players VNM (+1.5%) and MSN (+1.9%) climbed while boosting the market. MSN has increased in four consecutive sessions. SAB (-0.2%) edged down. HAG (+7.0%) soared.

* Large-cap banks VCB (-0.9%), BID (-1.2%), VPB (-1.0%) decreased and were the day’s top laggards. ACB (0.0%) and HDB (0.0%) were the only banks whose share prices did not lose value.  

* GAS (+0.9%) and technology company FPT (+0.9%) inched up and steel maker HPG (-0.7%) fell.

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