VCSC Daily - VN-Index drops at close of trading, ends five-session winning streak - PMI - Banking - NLG, SCS, DGW, DXS, LHG, REE, CII
  • 2022-12-01T00:00:00
  • Market Commentary

* Manufacturing PMI ends 13-month sequence of expansion 

* Banking sector: SBV’s new draft decree indicates banks supporting the restructuring of weak credit institutions could have FOL of up to 49%

* NLG: Change of first interim FY2022 cash dividend payment to VND300/share (1.09% yield), record date moved to December 13 

* SCS to pay interim FY2022 cash dividend of VND2,500/share 

* DGW: Muted sales growth, higher interest expenses in 2023F - Update

* DXS: Property downturn drags 2022F profit, stock oversold - Update

* LHG: Attractive valuation, strong net cash balance sheet - Update

* REE: Expecting flat earnings in 2023, growth to resume in 2024 - Update

* CII: Termination of coverage  

* Market wrap: VN-Index drops at close of trading, ends five-session winning streak  


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Market wrap: VN-Index drops at close of trading, ends five-session winning streak  


The VN-Index looked like it was on its way to its sixth straight positive session on Thursday, but it plunged in the last hour of trading to close down by 1.2% as several bank stocks were sold off. 


* VIC (-5.2%) ended a two-day losing streak and was the top contributor to the day’s loss. Vingroup subsidiaries VHM (-1.8%) and VRE (-1.8%) also dropped. 


* In the banking sector, TCB (+5.8%), MBB (+2.3%), SHB (+5.4%), ACB (+1.8%), HDB (+2.6%) and MSB (+2.7%) all increased. Conversely, BID (-5.1%), CTG (-4.0%) and VCB (-1.2%) declined. 


* GAS (-3.4%) fell for the third day in a row. Meanwhile, PLX (+5.1%) surged. 


* MSN (-2.9%) retreated after climbing more than 14% over the previous four trading days. 


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