Vietnam Daily Market Recap Aug 24 – ACV

Market Commentary: The VN-INDEX fluctuated throughout the trading session

Tuesday’s session fluctuated quite strongly around the reference level and ended in red by edging down 0.1pts. After the opening bell, the VN-INDEX started in a positive sentiment as most large caps started trading in the green. PDR became today’s top mover, rising 1.6% to VND86,000 and adding 0.5pts to the index’s gain. Large caps from Consumer Staples and other sectors also joined the rally, led by SAB (+1.7%), MSN (+1.2%), VNM (+0.3%), VJC (+2.1%), and MWG (+1.5%). Thus, the VN-INDEX quickly rose to its intraday high of 1,307.6pts (+0.7%). However, selling pressure emerged right after that, making the index fluctuate at the reference point throughout the day. VIC was the largest laggard, which declined 0.8% and solely took 0.7pts off from the index’ move. In addition, the strong profit-taking pressure in the brokerage group caused many stocks to fall deeply, including HCM (-6.8%), VCI (-6.6%), and SSI (-3.5%). At the end of the session, the VN-INDEX slightly decreased 0.01% to 1,298.7pts and the HNX-INDEX also fell 0.9% to 331.8pts.

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