Vietnam Daily Market Recap Aug 26

Market Commentary: The VN-INDEX slumped to 1,301.1pts due to bad performance from the VN30 basket. 

The VNI_INDEX edged down 8.3pts to 1,301.1pts in today’s session due to mass reduction in the VN30 large caps. After the opening bell, the market fluctuated modestly around the reference level and soon stepped in the green territory to reach its intraday high of 1,315.9pts (+0.4%) right at the end of the morning sessions. Notably, the top contributors in today’s session mainly came from the outsiders of the VN30 basket, including REE (+6.9%), GMD (+6.5%), DPM(+5.6%), HPX (+5.3%), DCM (+4.1%), and together adding 1,1pts to the index’s advance. However, the strong selling pressure suddenly appeared in the afternoon session, targeting mainly on the VN30 pillars causing 24 stocks in the basket to decline and only 6 stocks stayed in green. Financial large caps became today’s top losers , led by CTG (-3.0%), BID (-2.2%), TCB (-1.7%), VCB (-0.7%), and together erased 3.6pts from the index. Other large caps also joined the rally, including VIC (-1.6%), HPG (-1.4%), NVL (-1.7%) and GAS (-1.1%). The negative sentiment lasted until the end of the session, sinking the VN-INDEX to its intraday low of 1,296.6pts, but then slightly bounced back to close at 1,301.1pts (-0.64%). In contrast, HNX-INDEX inched up 0.25% to close at 336.9pts with 84 gainers, 81 losers and 103 unchanged stocks. 

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