Vietnam Daily Market Recap Apr 12, 2022
Daily Market Recap 12/04/2022 65
Market commentary: The panic selling in the late the afternoon actively contributed to the deepening of the VN-INDEX’s losses
Since panic selling across all sectors, the VN-INDEX fell for the third time in a row with increasing amplitude, finishing the session down 24.2pts to 1,457.8pts. Against this backdrop, global stocks, government bonds, and oil prices slide on Monday as investors worried about the effect of rising interest rates and inflation in Europe and the US, and coronavirus lockdowns in China, however, VN-INDEX opened with a gap up of 5.9pts. Then, the rising gap was soon filled as the selling force strengthened in most sectors, particularly Real Estate, Financial, Materials, Industrials, and Oil & Gas. Selling expanded across most companies as a result of positive market breadth, prompting the VN-INDEX to fall deep into bearish territory and close at 1,462.5pts at the end of the morning session. Following the market’s unfavorable swings in the morning, bottom-fishing cash flow sought stocks with attractive discounts, as well as Banking, Consumer Staples drawing cash flow, which assisted in a minor recovery of the market. Panic selling pressure then emerged in Oil & Gas, Banking, and Real Estate toward the late afternoon session, leading the respective sector groups to decrease consistently with liquidity growing substantially. Before starting the ATC session, the index sank to an important support zone of 1,455-1,460pts. VHM (-2.8%), GVR (-5.3%), BID (-3.5%), HPG (-2.8%), CTG (-3.3%), and MBB (-2.9%) were instance of stocks that have a positive correlation with the overall stock market. Meanwhile, gainers such as MSN (+1.3%), MWG (+1.8%), FPT (+1.2%), and VHC (+6.9%) had less influence than losers. At the end of the session, the VN-INDEX decreased 1.8% to 1,455.3pts, and the HNX-INDEX plumped dramatically 2.6% to 421.0pts.
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