Give us your feedback

Vietnam Daily Market Recap Feb 07

Daily Market Recap 07/02/2022    89

Share

Market Commentary: The VN-INDEX performed vibrantly in the first trading session after Tet holiday

After the Lunar New Year holiday, the market surged 18.7pts to 1,497.6pts. As has been customary in the first trading session of the new year, the VN-INDEX continued the tradition of previous years’ uptrend with a gap up of 19.8pts. In response to multiple positive news, including the price of Brent oil reaching its highest level in seven years, the positive signal from the domestic flight market recently, and the expectation that the government will soon fully restore international flights, Oil & Gas, and Aviation stocks all surged simultaneously. Other large-cap stocks also obtained a high level of agreement, which assisted the market in stabilizing its increasing momentum and crossing the 1,504.2pts level right before noon break. Opening the afternoon session, the index increased modestly to its intraday high, 1,505.7pts, before a profit-taking force, which targeted the VN-30 group and Banking sector around 14:00 PM, causing the market to turn down slightly sooner entering the ATC session. A strong advance in the afternoon session prompted VCB (+3.8%) to emerge as today’s major pillar of the market, followed by GAS (+5.2%), VHM(+2.4%), MSN (+3.4%), VJC (+6.9%), GVR (+3.2%), and HPG (+2.0%). On the other hand, VIC (-6.0%) became the top laggard, as it alone took 5.8pts off the INDEX when foreign investors concentrated on net selling to the tune of VND334.3bn. It was followed by CTG (-1.6%), DIG (-6.9%), BID (-1.2%), and EIB (-4.0%) as the next most significant losers. At the end of the session, the VN-INDEX climbed by 1.3% to 1,497.6pts, and the HNX-INDEX increased by 0.6% to 419.3pts.

Read the full report: HERE

DMCA.com Protection Status