November 15, 2024: VN-Index continued to sell off  (VN-Index -1.08%)

• Weak sentiment from yesterday did not improve and VN-Index opened lower.
• Last night, Fed Chairman Jerome Powell’s negative comments about an additional interest cut in December caused the index to extend its decline.
• The index stopped falling in the afternoon session, but closed without improvement.
• Only the Insuarance and Industrial Goods & Services sectors were positive.
• Market breadth included 75 winners, 305 losers, and 49 unchanged.
• Liquidity increased by 15.5% to VND 18.6 trillion.

VN-30 also showed weak price action (VN-30 -1.20%)

• The basket recorded 3 increasing stocks, 26 decreasing stocks, and 1 staying the same.
• Only VRE (+0.55%), SSB (+0.30%), and BVH (+0.11%) increased.
• SSI (-3.04%) had the largest decline, as did MWG (-2.28%) and HDB (-2.18%).

Sectors and stocks daily highlights

• GEX (+1.10%) announced its results for the 10M2024. Net sales and pre-tax net income totaled VND26,668 billion and VND2,558 billion, achieving 83% and 130% of the company’s 2024 target, respectively.
• BCM (-0.87%) planned to issue bonds with a face value of VND100 million and a total issue amount of VND1.08 billion to restructure its debt, which was approved by the Board of Directors. The purpose is to pay debts and interest to the bank.
• Foreign investors sold VND1,318 billion. KBC (+2.44%) was the top net-bought stock, while VHM (-0.25%) was the top net-sold stock.

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