Vietnam Daily Market Recap Aug 10, 2022 – TPB

Market commentary: The VN-INDEX continued to accumulate under the critical resistance level of 1,262-1,270pts

Throughout most of the day, the VN-INDEX was subjected to intense profit-taking pressure, struggling below the reference level and closing marginally down by 2.4pts at 1,256.5pts. European and Asian equity markets fell on Wednesday as investors braced themselves for the latest US inflation data, which is expected to shape the pace of future monetary tightening by the Federal Reserve, and the VN-Index opened cautiously with a gap down of 3.6pts. The market continued to diverge as the profit-taking pressure increased significantly, but the cash flow from investors also moved to sectors that had accumulated well and had not had a distinct growth over the previous two weeks. Indeed, the Index was under corrective pressure as it approached the crucial resistance levels around 1,262 and 1,270pts and has been trading sideways around 1,257.0pts for the entire session. With names like BCM (+2.2%), VHM (+0.7%), HVN (+3.1%), SAB (+1.0%), VNM (+0.7%), and MSN (+0.5%), today’s market was supported by firms from the Energy, Real Estate, Aviation, and Consumer sectors. Banking, Securities, and Information Technology exerted pressure on the market with GAS (-1.0%), VIC (-0.8%), HPG (-1.2%), CTG (-1.2%), VCB (-0.4%), and BID (-0.6%). At the end of the session, the VN-INDEX decreased slightly by 0.2% to 1,256.5pts, while the HNX-INDEX increased by 0.7% to 303.65pts.

Read the full report: HERE