- 2024-05-08T00:00:00
- Market Commentary
* Energy Sector: PetroVietnam announces new oil discoveries: 5% production boost, 2% reserve increase, slightly positive
* GEX: MPI of Quang Tri approves GEX’s 88 MW wind power divestment to Sembcorp
* HPG: April 2024 sales continues posting strong YoY growth from low base
* MSN Analyst Meeting: Prioritizing IPO as the top two fund-raising options for Masan Consumer Corporation; further details on corporate finance pipeline
* VNM Analyst Meeting: Total value market share increases YoY in Q1 2024
* IDC: Strong profit outlook due to substantial backlog - Analyst Meeting Note
* Banks' Q1 2024 Results Wrap: Earnings increase YoY; Bad debt metrics inch up QoQ
* Electric Vehicles Thought piece: VinFast's global growth strategy
* CTR: North-South cable to contribute to long-term growth - Update
* DGW: Strong earnings growth outlook with fair valuation - Update
* GAS: Higher transportation revenue to outweigh lower IP volume - Update
* Market wrap: VN-Index sees slight gain of 0.6% on Tuesday
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Market wrap: VN-Index sees slight gain of 0.6% on Tuesday
The VN-Index saw a slight gain of 0.6% (+7.1 pts) on Tuesday to close the trading day at 1,248.6. Consumer goods was the leading gaining sector in the market, closely followed by consumer services and basic materials. Banks was the only sector to exert downward pressure on the index. Throughout the index, there were 251 gainers, 178 laggards, and 75 stocks that were unchanged. Total trading volume declined to USD724.1mn.
* In consumer goods, milk producer VNM (+3.3%), beer brewer SAB (+1.2%), jewelry retailer PNJ (+2.2%), and fruit farmer HAG (+1.5%) led the sector while no large-cap stock posted a decline.
* Airlines VJC (+4.6%) and HVN (+3.5%) continued surging. The airlines have both gained over 10% in the last three trading days (HVN: +17.2%, VJC: +13.6%). Retailer MWG (+1.7%) and air cargo services company SCS (+4.5%) also had strong performances.
* In basic materials, steel maker HPG (+2.9%) saw a significant gain, as rubber producer GVR (+0.8%) and fertilizer producers DCM (+1.5%) and DPM (+0.9%) also advanced.
* Banks BID (-1.0%), CTG (-1.2%), TCB (-0.9%), MBB (-0.7%), and VCB (-0.1%) were among the ten stocks most weighing on the index. VPB (+0.3%), ACB (+0.2%), and SSB (+0.2%) gained.
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