VCSC Daily - Bank stocks drop, but VN-Index posts slight gain

• Government agrees to propose 2% VAT reduction to National Assembly on all goods & services

• SZC’s AGM approves rights issue to finance project development

• CTR: Resilient growth despite economic headwinds in 2023 - AGM Note

• VPB: Ambitious guidance; cash dividend resumes - AGM Note

• PPC: Low earnings due to low volume, high material costs - Earnings Flash

• TDM: Robust Q1 2023 results thanks to BWE dividend income - Earnings Flash

• Market wrap: Bank stocks drop, but VN-Index posts slight gain

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Market wrap: Bank stocks drop, but VN-Index posts slight gain

On Tuesday, the VN-Index rallied at the end of the session to close up by a tenth of a percent as trading turnover on HOSE remained thin at USD407.5mn.

* Dairy manufacturer VNM (+1.8%) was the top contributor to the day’s gain.

* The banking sector weighed heavily on the index as BID (-0.9%), VCB (-0.4%), VPB (-1.0%), TCB (-1.0%), SHB (-2.5%), ACB (-1.0%), LPB (-2.1%) and CTG (-0.3%) were all among the day’s top 10 contributing laggards.

* Real estate stocks VHM (+1.0%) and DIG (+6.7%) advanced.

* Securities brokerages SSI (+1.9%), VCI (+3.4%), VND (+2.0%) and HCM (+3.1%) finished higher