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Vietnam Daily Market Recap Feb 10 – 4Q21 Earnings review & KBC

Daily Market Recap 10/02/2022    66

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Market Commentary: The VN-INDEX had significant volatility in the afternoon session and concluded almost flat from the previous day 

The VN-INDEX was highly volatile in the afternoon session, inched up by 1.4pts to 1,506.8pts, a little increase from the previous day. The market began on a positive note with a 5.3pts gap up, which was shortly filled by strong selling pressure in VINGROUP-related stocks. However, immediately after the market had gone backwards into the red territory, significant demand from the Oil & Gas sector, as well as certain Financial stocks, supported the market rise to its intraday high at 1,512.9pts level. It was the 10th consecutive session in which foreign investors sold into VIC, prompting the index to reverse course instantly and closed around the reference level after the morning session finished. Opening in the afternoon, the market struggled around the reference level until VINGROUP-related stocks continued to be sold aggressively, forcing the VN-INDEX to drop as much as 5pts at times. After breaching through the 1-year bottom, bottom-fishing cash flow entered the picture, leading VIC to rebound significantly, followed by other large-cap stocks, which assisted the VN-INDEX in recovering before entering the ATC session. GAS (+1.8%) and MSN (+2.1%) were the most important pillars of the market, followed by VCB (+0.6%), DIG (+7.0%), and SAB (+2.1%). VIC (-1.9%), on the other hand, remained the market’s main bearish factor, as it was net sold to the tune of VND453bn by foreign investors. The stock was followed by VHM (-1.7%), VPB (-1.1%), HPG (-0.6%), and VJC (-1.5%), all of which all contributed to the decline of the market. At the end of the session, the VN-INDEX increased 0.1% to 1,506.8pts, while the HNX-INDEX rose 1.0% to 428.2pts.

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