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Vietcap Daily - VN-Index falls 0.9% - DGC, FPT, MWG

Market Commentary

10 Feb 2025

* Energy Sector: Block B’s onshore gas pipeline progress reinforces timeline for Block B’s first gas
* US President Donald Trump to impose new 25% tariffs on all steel, aluminum imports on Monday, adding to existing metal duties; negative implications for all steelmakers
* DGC: Demand recovery, new projects to bolster 2025-26F earnings - Update
* FPT: Education segment lags; AI leads technology growth in 2025 - Update
* MWG: Sustained double-digit earnings growth in 2024-27F - Update
* Market wrap: VN-Index falls 0.9%


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Market wrap: VN-Index falls 0.9%

The VN-Index fell 0.9% (-11.9 pts) on Monday to close the trading day at 1,263.3. Investor sentiment was cautious as concerns over President Trump’s proposed steel tariffs impacted export-driven sectors. Throughout the index, there were 119 gainers, 355 laggards, and 56 stocks unchanged. Total trading volume surged compared to the previous trading day to USD744.8mn.

* The real estate sectors saw large losses, including VHM (-2.5%), VIC (-1.6%), VRE (-1.5%), and KDH (-1.6%). BCM (+1.3%) posted a solid gain.  

* Among banks, MBB (+0.7%), ACB (+0.4%), LPB (+0.1%), and STB (+2.7%) advanced, and VCB (-0.9%), BID (-0.4%), CTG (-1.2%), VPB (-0.5%), and HDB (-1.3%) declined. TCB was unchanged.

* Several basic materials stocks plunged, including HPG (-4.7%), HSG (-4.5%), GVR (-2.0%), DGC (-3.2%), DCM (-1.6%), and DPM (-1.4%).  

* Tech company FPT (-2.8%), logistics company VTP (-6.9%), retailer MWG (-2.6%), jewelry producer and retailer PNJ (-2.6%), utility company POW (-1.3%), and airlines HVN (-3.1%) and VJC (-1.3%) were some of the noteworthy laggards from other sectors.

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