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Vietcap Daily - VN-Index plunges 1.5% - ACV, DPG, VHC, PVD, VNM

Market Commentary

07 Feb 2026

* Macroeconomic indicators continue upward momentum in first month of 2026
* ACV: Core operations resilient, State earnings hit by maintenance expenses spike in Q4; 2025 results in line with forecasts - Earnings Flash
* DPG: Slower-than-expected real estate sales, downside risk to 2026 NPAT forecast - Earnings Flash
* VHC: Q4 Weakness & Financial Income Dip Weigh on 2025 Bottom Line - Earnings Flash
* PVD: Global drilling demand increasing; further drilling rigs expansion to drive earnings - Analyst Meeting Note
* VNM: Preliminary single-digit growth target, higher SG&A expenses for anniversary marketing campaigns in 2026 - Analyst Meeting Note
* Fixed Income January 2026: VND strengthens against USD for second consecutive month
* Market wrap: VN-Index plunges 1.5%


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Market wrap: VN-Index plunges 1.5%

The VN-Index plunged 1.5% (-27.1 pts) on Friday to close the trading day at 1,755.5. The index has fallen by a total of 4% this week. Across the index, there were 54 gainers, 288 laggards, and 33 unchanged stocks. Total trading volume increased compared to the previous trading day to USD1.4bn.

* In Banking, VCB (-4.8%), CTG (-3.1%), HDB (-3.8%), and VPB (-2.2%) sharply fell, while MBB (+1.1%) and LPB (+2.2%) posted strong gains.  

* The Financial Services sector performed poorly as TCX (-1.6%), SSI (-3.5%), VCK (-4.1%), VPX (-1.8%), VIX (-4.5%), and VCI (-5.1%) saw significant losses.  

* Consumer stocks performed poorly for consecutive sessions, with PNJ (-6.3%), FRT (-5.6%), VPL (-3.5%), SAB (-2.7%), MWG (-2.0%), MSN (-1.5%), and MCH (-1.5%) dropping.  

* Notable laggards in other sectors included real estate companies BCM (-4.9%) and KBC (-5.0%), industrials firms GEE (-5.7%) and GEX (-6.2%), steelmaker HPG (-2.7%), rubber producer GVR (-2.5%), utility company POW (-4.9%), and tech company FPT (-1.4%).


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