- 2024-04-15T00:00:00
- Market Commentary
* VEA: Passenger car retail sales double MoM in March from a low base in February but decline 15% YoY
* MWG: Management confident in NPAT guidance of VND2.4tn - AGM Note
* PVT: Conservative 2024 guidance despite strong YoY Q1 performance, ambitious long-term share capital increase plan - AGM Note
* TDM: Q1 2024 NPAT from water generation grows 11% YoY - Earnings Flash
* Vietnam Macro Flash Note - Labor market improves but uncertainties remain
* Market wrap: VN-Index plunges 4.7% on Monday
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Market wrap: VN-Index plunges 4.7% on Monday
The VN-Index plunged 4.7% (-59.99 pts) on Monday, closing the trading day at 1,216.6. There were significant losses seen across sectors, particularly in banking, real estate, and basic materials. This was the index’s largest single-day decline since May 12, 2022. Throughout the index, there were only 40 gaining stocks, 30 that were unchanged, and 475 that lost value. Total trading volume climbed to USD1.3bn.
* Five banks were among the ten stocks putting the most downward pressure on the market. These were BID (-6.9%), VCB (-2.8%), CTG (-6.8%), TCB (-6.3%), and VPB (-5.6%).
* In real estate, VIC (-2.9%), VHM (-4.7%), BCM (-6.9%), VRE (-6.8%), NVL (-6.8%), and KDH (-7.0%) posted substantial declines.
* In basic materials, rubber producer GVR (-6.9%), steel maker HPG (-4.8%), chemical company DGC (-6.8%), and fertilizer producer DCM (-6.7%) were the top laggards.
* Some noteworthy decliners in other sectors were food & beverage conglomerate MSN (-6.95%), GAS (-4.6%), securities company SSI (-6.9%), jewelry retailer PNJ (-6.4%), and airline HVN (-5.7%).
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