September, 16 2024: VN-Index in a wait-and-see stance (VN-Index -0.99%)

• Due to the impact of Typhoon No.3, which hit Vietnam, the Ministry of Planning and Investment indicated that this year’s GDP growth rate could drop by around 0.15% from the forecast. As a result, VN-Index started with weak trading.
• In addition, with the U.S. FOMC set to meet tomorrow, the Vietnamese market has adopted a wait-and-see attitude.
• Even in the afternoon session, no significant buyers emerged, and the decline continued to widen until the end of the trading today.
• By sector, only Chemical sector saw an increase, while sectors heavily impacted by the typhoon, such as Oil & Gas, Utilities, and Real Estate, experienced a noticeable decline.
• Market breadth included 96 winners, 313 losers, and 62 unchanged.
• Liquidity increased by 20.7% to VND 13.5 trillion.

VN-30 also in sluggish movement (VN-30 -1.00%)

• The basket recorded 1 increasing stock, 25 decreasing stocks, and 4 staying the same.
• The only stock that rose was GVR (+0.87%).
• Stocks that stood out for significant declines included POW (-3.91%), VHM (-2.91%), GAS (-2.29%), and VRE (-2.07%).

Sectors and stocks daily highlights

• According to EVN, as of this morning, power supply had been restored to 98% of the 6.1 million customers affected by the typhoon. As the scale of the damage became clear, investor sentiment in the utilities sector, including POW (-3.91%), turned bearish.
• It was reported that Japan’s major retailer Takashimaya will enter the corporate business sector in Vietnam, causing stocks like VRE (-2.07%) to fall.
• Foreign investors were net buyers with VND 217 billion. TCB (0.00%%) was the most net bought stock. On the other hand, HSG (-1.75%) was the most net sold stock.

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