Vietnam Daily Market Recap Aug 27 – LPB & CRE

Market Commentary: The VN-INDEX rose to 1,313.2pts thanks to the strong comeback in the afternoon session.

The VNI-INDEX surged 12.1pts to 1,313.2pts in today’s session with the contribution from various sectors. Right after the opening bell, the negative sentiment from yesterday continually emerged in the market, quickly pulling the index to touch its intraday low of 1,285.1pts (-1.2%), and sinking the whole morning session in red territory. Bad performance among Financial large caps are the main givers for the index reduction, including CTG (-0.2%), TCB (-0.5%), HDB (-1.3%), ACB (-0.6%), MBB (-0.4%) and TPB (-0.3%). However, the strong bottom-fishing cash flow suddenly arrived in the afternoon session, leading the market to quickly recover. GVR became the biggest supporter by increasing 5.4% and alone contributed 2.1pts to the index advance. Other VN30 large caps also joined the rally, including VCB (+1.0%), VIC (+1.8%), MSN (+1.4%), GAS (+0.8%), POW (+4.8%), and MWG (+1.5%). The uptrend was continually consolidated to the ATC session, helping the VN-INDEX to close at its intraday high of 1,313.2pts (+0.9%). The HNX-INDEX also edged up 0.6% to close at 338.8pts.

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