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Vietnam Daily Market Recap Jul 12

Daily Market Recap 12/07/2021    112

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Market Commentary: The VN-INDEX recorded a sharp fall of 50.8pts loss

The VN-INDEX edged down 3.8% to 1,296.3pts as all sectors fell under strong selling pressure. After the opening bell, Vietnam’s main index followed last week’s bearish sentiment to enter the red territory as large caps due to profit-taking activities targeted Financials and Real Estate sectors large caps. Notably, VIC and VHM became today’s top losers, dropping  4.2% and 4.0% to VND104,000 and VND108,000, respectively, together wiping 8.5pts off the index’s move. Other Financials stocks also fell sharply, including VPB (-7.0%), BID (-6.5%), TCB (-5.5%) and VCB (-2.5%), pushing the index to its intraday low of 1,270.1pts (-6.1%) in the afternoon session. On the positive side, a few large caps supported the index, including MSN (+1.0%), NVL (+1.3%), VJC (+1.9%), and SJS (+5.6%). At the end of the session, the index closed down 3.8% to 1,296.3pts with only 36 movers and 374 losers. The HNX-INDEX also lost 4.5% to end at 293pts. Foreign investors recorded a net buy value of VND1,432.2bn in today’s session and mainly focused on STB, SSI, and HPG. 

Read the full daily report: Daily Market Recap Jul 12

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