Daily Market Watch 18/08/2026: Afternoon Weakness Pared Most Gains in The Morning/ SAB Initiation Report (Buy +25.7%)

MARKET HIGHLIGHTS

o     The market opened on a positive note as retail investors became more active across selected sectors. Oil & Gas led the advance on several supporting news: (1) Brent crude returned above USD 90/barrel amid escalating Middle East tensions, (2) PVN plans to sell 2-5% stakes in GAS and BSR to meet public-company ownership requirements through public auctions on the stock exchanges, and (3) the National Assembly Standing Committee agreed to submit the draft amended Law on Oil & Gas for review and voting.  The amended law aimed at streamlining approval procedures and accelerating oil & gas project development. The Government is required to finalize the draft by August 21. O&G stocks rose sharply as a result. PLX surged to limit up (+7%) after announcing plans to sell all 23.3mn treasury shares from August 26 to September 25 via order matching on HOSE. BSR climbed 5%, while GAS jumped 6% as it released quite solid 7M26 earnings results with revenue up 39% YoY and pre-tax profit up 20% YoY. Other mid-cap energy names also advanced 1-3%, including OIL, PVS, PVD, PVP, and PVT, on strong retail buying.

o      Vingroup family rebounded well and pushed the VN-Index to an intraday high of 1,750 points (+1.3% DoD). VHM had fallen 15% since its 1:1 stock dividend ex-date. VIC also traded quite poorly in the last several days due to foreign selling pressures. Both rallied well as foreign net sell volume dropped. The rally of Vingroup family helped cushion Index performance largely in the morning. The VN-Index finished the morning session 7 points higher (+0.42%) with VHM, VIC and large cap Oil & Gas names contributed more points than the index’s overall gain. HOSE breadth leaned positive at 151 gainers versus 135 decliners.

o    The market cooled down largely in the afternoon as large banks gave back their early gains and moved into negative territory. Several commercial banks continued to follow the SBV's instruction on lower interest rate for SMEs. MSB and SHB launched preferential loan packages of VND 3,000bn and VND 2,000bn respectively for SMEs and household businesses in priority and growth-driving sectors. Lending rates will be at least 1 percentage point per year below standard rates. Concerns over NIM pressure from lower lending rates remained a drag on sentiment while deposit rates stayed elevated. TCB, LPB, HDB, and SSB slipped 1-3% as a result. BID, ACB, CTG, and VCB also weakened in the afternoon amid subdued liquidity.

o    Selected mid-cap names bucked the broader weakness. GMD, VSC, and PVT advanced 1-2% as container rates from the Far East to the US East Coast surged 234% YoY while tanker rates also reached record highs on several routes. Investors were upbeat on the earnings outlook for shipping and port operators. The mid-cap basket still leaned negative with 34 decliners versus 22 advancers.

o      The VN-Index managed to close 0.26% higher (+4.56 points), supported by Vingroup names and a strong rally in major energy stocks. Market breadth reversed to 129 gainers versus 167 decliners. The VN30 Index slipped 0.1% as blue chips bank weighed on the basket. The VNMID Index and VNSML Index declined 0.5% and 0.2% DoD, respectively. Liquidity picked up slightly as retail investors became more active today.

o     Total trading value on HOSE increased 7% to USD 568mn, still well below the YTD historical average of USD 800mn. Foreign investors remained net sellers for a fourth straight session with net selling of USD 30mn. Selling was concentrated in VIC (-USD 5.8mn), VPB (-USD 4.5mn), and SSI (-USD 2.5mn). Foreign buying was modest in VNM (+USD 1.1mn), CTR (+USD 0.6mn), and PLX (+USD 0.6mn).