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Vietcap Daily - VN-Index plunges 1.4%, led by VHM - TPB, VPB

Market Commentary

11 Sep 2023

* Vietnam and US elevate relationship to Comprehensive Strategic Partnership
* VPB and TPB secure new offshore funding from DFC
* Macro Update - Exports and imports improve to 12-month highs
* Market wrap: VN-Index plunges 1.4%, led by VHM
 

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Market wrap: VN-Index plunges 1.4%, led by VHM 

The VN-Index experienced a strong selloff on Monday afternoon, closing down by 1.4% as trading turnover on HOSE surged to VND31.13tn (USD1.33bn). 

* VHM (-2.8%) was the top contributor to the day’s loss. Several other real estate stocks plummeted, including NVL (-6.8%), VRE (-3.0%), DXG (-6.2%), DIG (-5.4%) and KBC (-3.8%).

* Banks VCB (-1.1%), TCB (-2.3%), BID (-1.1%) and CTG (-1.2%) fell. 

* Other notable decliners included GVR (-4.2%) and MSN (-2.7%). 

* Brewer SAB (+4.3%) climbed for its fifth straight trading session and was the day’s top contributing gainer.

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