Vietnam Daily Market Recap Feb 20, 2023 – NT2

Market commentary: The extraordinary was calling the VN-INDEX

As a result of the market’s strong upward momentum throughout the session, the VN-INDEX finished the day up 27.4 pts, at 1,086.7pts on the back of Real Estate and Banking large caps. Maintaining the positive sentiment from recent sessions, VN-INDEX opened positive with a gap of 5.0pts. Real Estate stocks attracted cash flow after the news about the proposal of a credit package of VND110,000bn for social housing development. Market pillars from Bankings stock also joined the rally. Notably, VPB rose 5.8% while VHM increased 4.4%, solely adding 2.1pts to the index. The high consensus was obtained on the VN-INDEX, which helped to solidify the increasing momentum when the Real Estate group spread cash flow across the whole market. Before the start of the ATC session, the VN-INDEX climbed to a high of 1,087.8pts. Today, the group with a positive correlation with the market showed dominance over the group with a negative correlation. VHM (+4.4%), BID (+3.1%), VPB (+5.8%), HPG (+4.3%), MSN (+3.5%), CTG (+2.7%) contributed 8.9pts, while PGV (-1.3%), TRA (-4.2%) and CVT (-6.6%) only took away minimal point from the index. At the end of the session, the VN-INDEX increased strongly by 2.6% to 1,086.7pts, and the HNX-INDEX rose by 2.8% to 215.8pts.

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