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Vietnam Daily Market Recap Jan 17, 2023 – Power Sector

Daily Market Recap 17/01/2023    116

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Market commentary: VN-Index recorded a solid gain with positive sentiment spread out

The VN-Index boomed by 2.0% on the back of all sectors with the most contribution coming from the Financials sector (+2.2%). After the opening bell, the VN-Index began the session in the green and gradually rose and closed at its intraday high of 1,088.3pts. After a long period of moving sideways with low liquidity, the VN-Index increased strongly with liquidity surpassing the 20-day average. This helped the VN-Index continue to extend its rally from the end of December 2022. Today’s strong rally also brought the VN-Index near the short-term peak set in early December, which was around 1,075-1,095pts. Notably, VCB from the Banking sector became the largest supporter, jumping 2.4% to VND89,400 and alone contributing 2.5pts to the index’s gain. Market pillars from the Steels and other sectors also joined the rally, including HPG (+6.9%), MBB (+4.9%), MSN (+2.7%), TCB (+3.2%), and VRE (+4.7%). On the contrary, SAB became the top laggard, decreasing 0.8% to VND187,000 and alone taking away 0.3pts from the index. Besides domestic capital flows, the index was also supported by foreign flows with a net buying value of over VND800bn. This helped VN-Index to increase sharply by 2.0% to 1,088.3 points. At the same time, the HNX-Index also surged 2.0% to 215.2 pts.

Read the full report: HERE