Vietnam Daily Market Recap Feb 27, 2023 – Residential property sector

Market commentary: Gloomy sentiment prevailed, VN-Index fell following the consensus loss from pillar sectors

The VN-Index declined 18.3pts to 1021.3pts with all industries experiencing a divergence trend. The slump in U.S. stock markets last week triggered negative sentiment in investors, causing a sharp drop of 10.0pts gap right after the opening of the VN-Index. Throughout the trading session, the VN-Index shrank in a red hue with the Consumer retail and Securities sector being the two declining the most. Notably, MSN closed at the price floor while other large caps such as NVL, SSI, HDB, and HPG lost more than 3%. Top market laggards including MSN (-7.0%), GAS (-2.3%), HPG (-3.4%), CTG (-2.5%), VCB (-0.7%), and SAB (-2.0%) together took away 8.6pts from the index. In contrast, VJC (+2.4%), VNM (+0.7%), PGV (+1.1%), PDN (+7.0%), and PVD (+1.0%) were today’s minimal traction, yet not enough to support the market. Market liquidity rose suddenly near the end of the session, reaching the total value of VND10,341bn, improving compared to the previous session. At the end of the session, the VN-Index decreased by 1.8% to 1,021.3pts, while the HNX-Index also dropped by 2.0% to 203.3pts. 

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