Vietnam Daily Market Recap Dec 23 – POW & Retail sector

Market Commentary: The VN-INDEX lost 1.4% as market pillars tumbled

The VN-INDEX lost 20.7pts as selling pressure emerged, targeting Real Estate and Financials large caps. Vietnam’s main stocks index began Wednesday’s session pessimistically and maintained to stay in the red territory as almost all large caps started trading in the red. VHM became today’s top laggard, losing 3.7% to end at VND82,500 and alone taking 3.7pts from the index. The stock was followed by other Real Estate large caps, namely VIC (-3.6%), NVL (-3.2%), and VRE (-1.6%). Market pillars from Financials and other sectors also lost ground, led by TCB (-3.2%), VPB (-3.6%), DIG (-7.0%), HDB (-3.8%), and SSI (-4.1%). Thus, the index was pushed down to its intraday low of 1,447.1pts (-2.1%). On the contrary, top movers today included CTG (+1.7%), EIB (+7.0%), VCG (+7.0%), MSN (+0.6%), and HNG (+6.8%). At the end of the session, the VN-INDEX dropped 1.4% to 1,457.0pts and the HNX-INDEX also plunged 2.3% to 442.6pts.

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