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Vietcap Daily - Banking sector drags market down, VN-Index falls 0.7% - MWG, CTG, HDB

Market Commentary

27 Nov 2023

* Registered FDI maintained strong growth in 11M 2023
* MWG’s preliminary 10M 2023 results: Sales per store continue improvement MoM in October; Expecting to close 200 underperforming stores in Q4
* Real Estate Sector Flash: Amended Housing Law approved; Amended Land Law postponed to next NA meeting
* CTG: NIM recovery and NFI growth to support 2024F earnings - Update
* HDB: High ROEs with ample liquidity - Update
* Market wrap: Banking sector drags market down, VN-Index falls 0.7%


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Market wrap: Banking sector drags market down, VN-Index falls 0.7%

The VN-Index started the week by dropping 7.6 points (-0.7%) to close Monday’s session at 1,088.1. All large-cap banks declined in the session, dragging the market down. Total trading volume plummeted to USD486.3mn.

* VCB (-0.2%), BID (-1.5%), and CTG (-0.7%) had the most negative impacts among banks on the session, while TCB (-2.5%) and MBB (-1.4%) also declined. VPB (0.0%) was unchanged.  

* Helping lift the market, real estate stocks VHM (+1.8%), VIC (+1.2%), and BCM (+0.9%) climbed up.  

* The food & beverage sector had mixed results as VNM (-0.3%) and MSN (-1.5%) dropped but SAB (+2.1%) surged.

* GAS (-0.9%), steel maker HPG (-0.4%), and technology firm FPT (-0.6%) all edged down.

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