Vietnam Daily Market Recap Jul 06

Market Commentary: The VN-INDEX lost 56.3pts in the last minutes

The VN-INDEX dropped 4.0% due to selling pressure from many market pillars, despite the early trading rise. After the opening bell, the VN-INDEX kicked off the morning session in the green and quickly rose to its intraday peak of 1,418.8pts (+0.5%). The biggest supporter belonged to NVL which rose 1.7% to VND117,000 and alone added 0.6pts to the index’s advance. Other large caps also join the rally including VJC (+0.9%), VIB (+0.6%), BHN (+1.5%), and IMP (+3.5%). The optimistic sentiment remained until the afternoon session as selling pressure suddenly emerged and pushed the index down to the red territory. VHM became the largest laggard today, falling 6.9% to take 7.5pts off from the index’s move. Other bearish large caps included HPG (-6.3%), TCB (-6.9%), CTG (-6.9%), and GAS (-6.7%), thus erasing all the morning gain. As several large caps lost ground, the VN-INDEX ended the session at its intraday low of 1,354.8pts (-4.0%) and the HNX-INDEX also lost 2.8% to 318.5pts. 

Read the full daily report: Daily Market Recap Jul 06