October 08 2024: VN-Index remained wait-and-see (VN-Index +0.16%)

• VN-Index opened higher as selling pressure seen in late trading yesterday dissipated.
• The first comprehensive strategic partnership with an EU country was signed with France, which was a positive factor. On the other hand, there was some disappointment in the absence of additional stimulus measures announced by the Chinese government, and thus price movements were slight.
• In addition, amid the focus on the FTSE’s upgrade of the Vietnamese market scheduled for this evening, investors generally remained wait-and-see.
• Basic Resources rose over 1%, while Retail and Automobiles & Parts fell over 1%.
• Market breadth had 176 increasing, 179 decreasing, and 79 unchanged stocks.
• Liquidity recovered slightly by 32.9% to VND15.7 trillion.

VN-30 generally steady (VN-30 +0.27%)

• The basket recorded 14 increasing stocks, 12 decreasing stocks, and 4 staying the same.
• HPG (+2.08%), VNM (+1.64%), HDB (+1.30%), and TCB (+1.04%) were the biggest gainers.
• Only MWG (-1.66%) fell by more than 1%.

Sectors and stocks daily highlights

• MBS (-5.36%) announced its 3Q2024 results. Net sales and net income after tax both increased to VND806 billion (+49.4% YoY) and VND179 billion (+7.6% YoY), respectively. However, net income after tax turned to decline QoQ for the first time in seven quarters.
• It was reported that Hung Yen Hotel Services JSC, a subsidiary of KBC (+1.84%), and a company owned by former US President Trump will develop a hotel and golf course in Vietnam. The total investment is expected to be worth USD1.5 billion.
• Foreign investors net sold VND118 billion, led by MWG (-1.66%), while TCB (+1.04%) and HPG (+2.08%) were most net bought.

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