Vietnam Daily Market Recap Aug 18

Market Commentary: The VN-INDEX continued to drop 0.16% due to strong selling pressure in Financial stocks

The VN-INDEX slightly dropped 2.15pts to close at 1,360.9pts in today’s session due to bad performance from the Financial sectors. After the opening bell, the VN-INDEX fluctuated around the reference level and kept this state during the morning session. The sentiment lasted into the afternoon with higher fluctuation and soon reached its intraday high of 1,369.5pts (+0.4%). The largest support came from Consumer large caps, including MSN (+1.5%), SAB (+0.3%), VNM(+0.8%) and MWG (+1.5%) and together adding 3.2pts to the index’s advance. After a short period of staying in green territory, the index quickly dropped to its intraday low of  1,356.0pts (-0.5%) and maintained the red position until close. Financial stocks are today top laggards, led by VPB (-1.1%), TCB (-0.5%), and BID (-0.3%). Moreover, Vingroup’s affiliates, including VIC (-1.0%) and VHM (-0.9%), were the biggest losers in today’s session, and together erased 1.8pts from the index. At the end of the session, the VN-INDEX edged down 0.16% to close at 1,360.9pts with 161 gainers, 162 losers, and 59 unchanged. On the other hand, the HNX-INDEX increased modestly 0.5% to close at 344.5pts.

Read the full daily report: Daily Market Recap Aug 18