Vietnam Daily Market Recap Aug 15, 2022

Market commentary: The VN-Index was able to keep its upward momentum thanks to the pillar group
Today’s 11.9pts gain to a 1,274.2pts closing price for the VN-Index was mostly due to the strength of pillar equities like Banking and Consumers, which maintained strong gaining momentum today. US stocks rose on Friday to deliver a fourth straight week of gains for Wall Street, as early signs that inflation has steadied tamped down investor expectations of more aggressive interest rate rises from the Fed, and the VN-Index opened positive with a gap of 6.3pts. Small and medium-sized stocks, especially those that have risen dramatically over the past two weeks like Securities, Material, Public Investement and Real Estate, exerted considerable adjusting pressure on the index. However, the cash flow went to stocks including Banking, Information Technology, Fertilizer, Consumers, Chemicals, and others that have not had a big advance recently, enabling the market to keep its upward pace. The Index had a steep drop in the afternoon as profit takers flooded the market, sending the index down to 1,269.0pts. However, the market soon recovered, mainly because of the steady influx of cash from traders looking to buy on the cheap. The VN-Index hit a high of 1,274.2pts just before the start of the ATC session, making it the session high for the day. BID (+4.6%), CTG (+2.8%), MWG (+3.2%), SHB (+6.7%), FPT (+2.8%), and SAB (+2.2%) were all positively correlated stocks. The opposite happened to the group represented by VNM (-0.6%), GAS (-0.4%), BCM (-0.7%), LGC (-6.9%), VCI (-3.1%), and HVN (-1.1%). At the end of the session, the VN-INDEX increased by 0.9% to 1,274.2pts, while the HNX-INDEX inched up 0.2% to 303.9pts.

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