Vietnam Daily Market Recap Aug 17, 2022 – GAS

Market commentary: Strong corrective pressure was affected small and medium-cap stocks

Although VN30 stocks gained investor interest, the Index struggled in a confined range, closing the day practically flat at 1,275.3pts as small and medium-cap stocks came under considerable corrective pressure. US stocks were mixed on Tuesday after earnings results from retailers including Walmart and Home Depot showed ongoing consumer strength, against the backdrop of a slowdown in the housing market, and the VN-Index opened cautiously with a gap of 2.1pts. The VN-Index hovered in a tight range below the 1,280-1,300pts resistance zone. Small and medium-cap stocks were particularly vulnerable to selling pressure, particularly those that had recently performed well financially. Rather, VN30 stocks have emerged as the market’s primary driving force in recent days. Today’s top performing stocks were VIC (+2.1%), MSN (+2.1%), NVL (+1.7%), PDR (+6.8%), MBB (+1.8%), and VNM (+1.8%). The stocks of BID (-1.2%), GAS (-1.0%), MWG (-1.5%), HPG (-1.0%), GVR (-1.0%), and KBC (-3.0%) all contributed to the index’s downward movement. At the end of the session, the VN-INDEX was unchanged and closed at 1,275.3pts, and the HNX-INDEX decreased marginally by 0.1% to 302.6pts.

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