Vietcap Daily - VN-Index drops 1.1%, banks lead decline - VHC, BWE
  • 2024-11-14T00:00:00
  • Market Commentary

* VHC: Stellar revenue growth of 59% YoY in October 2024

* BWE: 2025 earnings growth strongly supported by water & residential waste tariff hikes, reduced interest rates - Analyst Meeting Note

* Oil & Gas Sector Update: Lowering oil price forecasts on increased risks to global trade

* Market wrap: VN-Index drops 1.1%, banks lead decline

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Market wrap: VN-Index drops 1.1%, banks lead decline

The VN-Index dropped 1.1% (-14.2 pts) to close the trading day at 1,231.9. The index’s decline was led by large-cap banks. Throughout the index, there were more than triple the number of laggards (284) as there were gainers (82), while 62 stocks were unchanged. Total trading volume increased compared to the previous trading day to USD634.0mn. 

* Six of the top-ten stocks negatively affecting the index were banks CTG (-2.2%), BID (-1.4%), VCB (-0.5%), VPB (-1.8%), TCB (-1.5%), and MBB (-1.5%).  

* Several financial services stocks fell by more than 2%, including SSI (-2.9%), VCI (-4.8%), VND (-2.4%), and HCM (-3.2%).  

* Basic materials stocks also performed poorly, as HPG (-2.8%), GVR (-2.3%), DGC (-0.3%), DCM (-1.1%), and HSG (-4.3%) declined.  

* Other notable laggards included tech companies FPT (-1.3%) and CMG (-3.1%), food & beverage conglomerate MSN (-2.2%), retailer MWG (-0.9%), beer maker SAB (-1.2%), and real estate company KBC (-3.1%).


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