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Vietcap Daily - Banking sector stocks drop, VN-Index falls 1.3% - DCM, DGC, SSI, LHG, PNJ, TCB, MWG

Market Commentary

24 Oct 2023

* DCM announces a BOD resolution to acquire a 100% stake of Korea-Vietnam Fertilizer Co., Ltd.
* DGC’s Q4 2023 guidance: Demand recovers across key products, cash dividend of VND3,000/share
* SSI: Seeking shareholders’ approval on bonus share and right issuance plan; implementing ESOP issuance plan
* DGC: Lower phosphorus price cushioned by higher sales volume - Earnings Flash
* LHG: No IP land sales recognition in Q3, trailing our expectations - Earnings Flash
* PNJ: Net profit remains flat YoY, operating expenses increase QoQ - Earnings Flash
* TCB: NIM rebounds; asset quality further deteriorates - Earnings Flash
* MWG: Quality produce at competitive prices drives dynamic traffic - Store Visit Note
* Market wrap: Banking sector stocks drop, VN-Index falls 1.3%


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Market wrap: Banking sector stocks drop, VN-Index falls 1.3%

The VN-Index dipped 1.3%, closing below the 1,100-point mark at 1,094. The market stayed in the red for the whole session in large part due to selling pressure from investors and the underperformance of the banking sector. Total trading value plummeted from the previous session to USD491.7mn.

* VCB (-0.4%) contributed the most to the day’s loss while other banks like BID (-0.5%), and VPB (-2.6%) also helped drag the session down.  

* Food & Beverage firms VNM (–2.9%) and MSN (-4.4%) couldn’t sustain their growth from last Friday. Neither could gas company GAS (-3.1%) or steel maker HPG (-1.4%).  

* VinGroup’s share price inched up (VIC, +0.1%) while its subsidiary Vinhomes went even (VHM, 0.0%).

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