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Vietcap Daily - Stocks climb, VN-Index gains 1.8% for week - HPG, PPC, DGC, ACB, ACG, BID, CTR, DHC, GAS, GEX, LHG, MSN, PVD, PVS, PVT, STB, TLG, VHC, VHM, VIB, VNM, VPB, VRE

Market Commentary

29 Jul 2023

* HPG’s preliminary Q2 2023 NPAT improves significantly QoQ, but preliminary H1 2023 NPAT trails our forecast
* PPC faces challenges in meeting environmental regulations  
* DGC: Demand recovers across key products - Update
* ACB: Decent earnings growth, solid asset quality - Earnings Flash
* ACG: YoY decline improves in Q2; ACG expects similar Q3 to Q2 - Earnings Flash
* BID: Strong credit growth, lower credit costs support NPAT growth – Earnings Flash  
* CTR: Resilient earnings growth — ahead of our expectation – Earnings Flash  
* DHC: Demand weakens; waiting for recovery of Chinese demand - Earnings Flash
* GAS: Higher-than-expected FO price; resilient gas sales volume - Earnings Flash
* GEX: H1 2023 PBT completes 80% of guidance - Earnings Flash
* LHG: Q2 profit plunges YoY due to no IP land sales recognition - Earnings Flash  
* MSN: Earnings miss on weaker-than-expected profitability – Earnings Flash  
* PVD: Strong Q2 reported profit on higher JU day rate, one-off profit – Earnings Flash
* PVS: Mechanical & Construction segment drives Q2 2023 earnings – Earnings Flash  
* PVT: Resilient Q2 from robust tanker rates, liquidation gain - Earnings Flash
* STB: Lower provision expenses support bottom-line growth - Earnings Flash
* TLG: Heavy marketing spending continues to bear fruit – Earnings Flash  
* VHC: Higher profitability QoQ backed by recovery in key markets - Earnings Flash
* VHM: Q2 contracted sales improve QoQ, driven by retail presales – Earnings Flash  
* VIB: Credit cost surges due to accelerated bad debt clearance - Earnings Flash
* VNM: VNM’s domestic sales and gross margin improve QoQ - Earnings Flash
* VPB: Strong deposit growth in Q2 strengthens funding - Earnings Flash
* VRE: Slight QoQ earnings drop in Q2 — in line with our expectation - Earnings Flash
* Market wrap: Stocks climb, VN-Index gains 1.8% for week  

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Market wrap: Stocks climb, VN-Index gains 1.8% for week  

The VN-Index increased by nine-tenths of a percent on Friday, with strong performances from the banking and real estate sectors. In addition, the index finished higher in four of the week’s five sessions, ending with a weekly gain of 1.8%.  

* VHM (+2.4%) rebounded from its loss on Thursday and was the day’s top contributing gainer.  

* Food & beverage manufacturers VNM (+2.2%) and MSN (+2.3%) climbed. Conversely, brewer SAB (-2.0%) fell for the second consecutive session and was the top contributor among decliners.  

* Nearly all banks increased, led by TCB (+2.1%) and VPB (+1.6%). LPB (-1.2%) was an exception to the trend.  

* Power generation company PPC (-5.4%) dropped 7.4% over the last two days.

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