Vietnam Daily Market Recap Jan 09, 2023

Market commentary: The VN-Index’s growth slowed down in the afternoon

The selling pressure in the afternoon narrowed down the VN-Index’s growth and it closed at 1,054.2pts. The U.S. market railed on Friday after a better-than-expected jobs report, with the December unemployment rate falling to 3.5%. The surge in U.S stock markets caused a positive impact on VN-Index, as it opened in green and quickly rose to its intra-day high of 1,061.4pts. The Financial and Steel sectors were the two pillars backing the upward trend in the morning session. VCB (+3.4%) and VIB (+2.7%) were the two banking stocks that gained significantly; meanwhile, the representative of the Steel sector was HPG with an increase of 1.0%. However, the upward trend didn’t linger as selling pressure started to emerge in the market in the afternoon. The decline in large-caps stocks dragged down the VN-Index by 3.2pts, in which VIC (-1.1%), BID (-1.1%), MWG (-1.2%), SAB (-1.1%), and VPB (-0.1%) were among the market laggards. On the other hand, the market movers included VCB (+2.9%), CTG (0.5%), VNM (0.9%), HVN (5.3%), and VHM (+0.3%) contributing 6.5pts to the index. At the end of the session, the VN-Index edged up 0.3% to end at 1,054.2pt, while the HNX-Index decreased by 0.5% to land at 209.7pts.

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