Market wrap: Stocks push higher, led by VNM, banks. The VN-Index climbed 1.4% on Friday. Despite rising two of the last three days of the week, the index fell 3.3% this week after dropping 2.2% last week. Trading value on HOSE remained muted at USD164mn.
The VN-Index fell for a third day in four on Thursday, down 1.2%, as the market was unable to build on yesterday's buying momentum. Trading value on HOSE plunged to USD140mn, its lowest level of the year and well below the average daily volume of the last year of USD248mn. Most of yesterday's top gainers became today's top decliners, led by GAS (-3.2%), BID (-4.3%), VRE (-5.2%), VCB (-1.9%) and CTG (-3.1%). Among large caps, only VNM (+0.7%), VJC (+1.8%) and HDB (+0.6%) manged to extend win
After falling sharply the first two days of the week, the VN-Index clawed back most of yesterday's loss, closing up two percent on Wednesday. Trading value on HOSE, however, was a tepid USD175mn. GAS (+5.8%) was the top contributor to the day's rally, bouncing off a six-month low. Other large-cap names that boosted the index included VIC (+1.6%), VJC (+6.3%) and VNM (+1.5%). Banks also bolstered the market, led by VCB (+2.8%), BID (+4.5%), VPB (+6.9%) and CTG (+3.0%).
The VN-Index fell sharply for a second day, closing down 2.6% on Tuesday to extend a 5.3% drop over the first two days of the week. The market was headed for an even steeper loss down 4.6% with about hour of trading left, but a late rally eased the pain. From a technical perspective, the index broke back below the 200-day moving average, a bearish signal. VNM (-3.7%) was the top contributor to the pullback and has dropped 7.8% so far this week. Other notable large-cap decliners included VRE
Market wrap: Stocks plunge, led by banks, energy. The VN-Index sold off hard in the afternoon, closing down 2.9% on Monday to break back below 1,000. Trading value on HOSE remained tepid at USD203mn, including net selling by foreigners of USD20mn.
Market wrap: Stocks flat as bank rally offsets VIC drop. The VN-Index eked out a small gain of less than a tenth of a percent on Friday after falling almost a percent during the morning session. For the week, the index slid 2.2%, breaking a two-week winning streak. Most banks were able to claw back some of their losses from yesterday, including VCB (+1.6%), BID (+2.5%), MBB (+2.8%) and CTG (+1.1%) while VPB (-1.0%) and insurer BVH (-1.7%) bucked the trend.
The VN-Index fell for a second day in three on Thursday, giving up 1.4% mostly in afternoon selling. Signals from the US central bank that it plans four rate hikes this year rather than three appear to have had a muted impact on today's trading (see our note above for more details). Trading value on the HOSE remained modest at USD201mn. * VCB (-3.0%) was the biggest contributor to the index's drop and banks fell across the board, including BID (-4.6%), VPB (-4.6%), CTG (-2.4%), MBB (-3.1%) an
The VN-Index bounced back from yesterday's sell-off to close up one percent on Wednesday and has risen nine of the last 10 days. Trading value on HOSE sank to USD171mn, well below the average daily volume of the last month of USD286mn.
Large caps helped fuel an afternoon rally into the close, led by VIC (+2.9%), GAS (+4.8%), VCB (+3.3%) and PLX (+3.4%). PNJ (-2.0%) fell after local media reported that a recent board member had been prosecuted (see our note above for more details).
The VN-Index moved down as market sentiment was hurt by news of protests, net foreign selling and domestic ETF outflows. The VN-Index fell below its key support level of 1,030 to seal a 1.76% drop, led by GAS (-5.14%), VHM (-1.7%) and financial stocks, including BID (-4.5%), TCB (-3.7%) and VCB (-1.7%). Trading volume on HOSE jumped by 14.5% from yesterday to USD281 million but was still broadly in line with the one-month average. VIC (+0.1%) outperformed the market
BSR: Preliminary H1 result and conservative 2018's business plan. BSR announced H1 revenue and NPAT of VND53tn (USD2.3bn, +40% YoY) and VND2.7tn (USD119mn, -30% YoY), respectively. This accounts for 52% and 38% of our 2018 revenue and NPAT forecasts, respectively.