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Vietnam Daily Market Recap Jan 19, 2023

Daily Market Recap 19/01/2023    122

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Market commentary: The uptrend carried on, VN-Index folded 2022 lunar year with a wholeness

The VN-Index maintained its gaining streak for the third consecutive days, edging up 9.8pts to 1,108.1pts in the last session before Tet holiday thanks to solid support from Financial large caps. In contrast with previous days, VN-Index opened its morning session with an immediate 5.0pts gap down. The downtrend then quickly prevented with strong buying demand spreaded all over market pillars, pulling the index back into the green territory. However, investor hesitation continued to be the main theme, thus, the index retreated to reference level right before noon break. In the afternoon, the index wavered for a while, reacting to HPG unfavored news of 4Q22 net loss, and at a time, dipping the index into red hue. However, strong buying cash flow suddenly appeared in late trading, helping the index to turn up, and officially surpassing the critical point of 1,100pts. Notably, investors sought to buy Financial stocks with VCB as today’s main supporter by rising 3.3% and adding 3.6pts to the index’s advance. Other large caps also provided solid contributions, including BID (+1.9%), MSN (+2.1%), VIC (+1.2%), and ACB (+2.0%). In contrast, HPG (-2.5%), VHM (-0.6%), VPB (-0.8%), SAB (-0.7%) and BCM (-0.2%) became today’s top laggards. At the end of the session, the VN-Index edged up 0.9% to 1,108.1pts and the HNX-Index also increased 0.9% to 219.9pts.

Read the full report: HERE