Vietnam Daily Market Recap Aug 08, 2022 – 2Q22 Earnings review

Market commentary: The VN-Index rose modestly on the first trading day of the week

It was another tumultuous day for the market, which ended slightly higher at 1,256.7pts after a tight range of gains and losses for various sectors. European shares opened the week higher, following losses in the previous session as a red-hot US jobs report added to expectations of aggressive interest rate rises by the Federal Reserve, VN-Index opened cautiously with a gap of 0.3pts. The range of the VN-Index remained narrow throughout the session, orbiting around the 1,256.0pts threshold. Relatively high levels of resistance and low levels of support are defined by reference points of 1,262-1,270, respectively. Bright spots in today’s trading session were Materials, Oil & Gas and Aquaculture .However, the index was under pressure from the Real Estate sector as well as pillar stocks such as Vingroup related and other VN30 firms. Indeed, equities such as VPB (+2.2%), GAS (+1.4%), TCB (+2.1%), NVL (+1.1%), HPG (+1.3%), GVR (+1.4%) were bolstering the market. Market pressure continues to be exerted by VIC (-1.2%), VHM (-0.5%), SAB (-0.9%), BID (-0.5%), VNM (-0.6%), and VJC (-1.0%). At the end of the session, the VN-INDEX inched up 0.3% to 1,256.8pts, while the HNX-INDEX increased slightly by 0.5% to 301.3pts.

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