Vietnam Daily Market Recap Apr 25, 2022 – ACG & HDB

Market commentary: The specter of panic selling pressure covered the whole VN-INDEX

The sell-off began with equities that had previously shown a tendency to deviate from the market and then expanded to the whole market, sending the VN-INDEX down by 68.3pts to 1,310.9pts. US stocks tumbled on Friday with the S&P 500 registering its biggest one-day loss since March as traders anticipated central banks on both sides of the Atlantic raising interest rates to curb inflation, VN-INDEX opened cautiously with a gap down of 1.5pts. The Index was under selling pressure from the start of the session, with investors placing a particular emphasis on equities that have out performed lately, such Aquaculture, Information Technology, Fertilizers, Chemicals, and Basic Material. Despite the fact that the groups who had suffered significant losses recently were attempting to recover technically, the market sank deep into bearish territory because of forces from losing sectors. Following the negative revelations, the selling force was immediately engaged on a massive scale in the opening afternoon session. VN-INDEX fell vertically with a bunch of stocks hitting the floor and closing near the key psychological support of 1,300.0pts before entering ATC session. Regardless of the fact that foreign investors participated in their seventh straight net purchasing session, the net buying value declined dramatically by around 77% when compared to the average volume of the previous two days. The market dropped with range that close to the historical decline with an almost absolute positive market breadth. Declining stocks completely overwhelmed those with negative correlation with VN-INDEX. Indeed, GAS (-6.9%), HPG (-6.9%), BID (-6.9%), VPB (-6.9%), TCB (-6.9%), CTG (-6.9%) took away a total of 18.9pts while in the opposite direction BCM (+1.3%), BHN (+2.9%), LGC (+2.5%), SCR (+3.5%), FLC (+2.9%), TAC (+6.2%) contributed only total 0.5pts to the market. At the end of the session, the VN-INDEX decreased dramatically 4.9% to 1,310.9pts, and the HNX-INDEX dropped significantly 6.0% to 337.5pts.

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