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Vietnam Daily Market Recap Jul 06, 2022

Uncategorized 06/07/2022    338

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Market commentary: Negative sentiment took over the market, the VN-INDEX tumbled to 1,149.6pts

Today’s trading session was dominated by selling pressure, which made VN-INDEX fall 31.7pts to 1,149.6pts. After the opening bell, the investor’s negative sentiment was rapidly widespread due to the decline of plenty of stocks in the VN-30 basket. The market was in the red as VN-INDEX dropped to 1,163.8pts. 30 minutes before the morning session ended, the decrease narrowed to 8.4pts. However, after the daybreak, the selling pressure accelerated, which negatively affected the investors’ sentiment. Notably, Vingroup related stocks such as VIC, VHM, and VRE were strongly sold. As a result, VIC dropped by 6.6%, VHM decreased by 2.3%, and VRE closed at the floor price. The foreign net sell today was VND795.8bn, which rose 151% compared to yesterday. Right before the closing session, VN-INDEX fell below the 1,150 level.  The top leaders were SAB (+0.3%), VJC (+0.2%), DBC (+0.1%), HVN (+0.1%), and HAG (+0.05%). On the other hand, top laggards were VIC (-4.6%), GAS (-3.5%), VHM (-1.5%), VCB (-1.4%), and CTG (-1.4%).  At the end of the session, the VN-INDEX dropped sharply by 2.7% to 1,149.6pts, while the HNX-INDEX decreased by 2.2% to 271.9pts.

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