Vietnam Daily Market Recap Jun 16 – PNJ

Market Commentary: VN-INDEX ended in the red due to Real Estate large caps sell-off

The VN-INDEX dropped 0.8% to close at 1,356.5pts as selling pressure emerged on Real Estate and Financials market pillars. After the opening bell, the VN-INDEX fluctuated around the reference point and gradually plunged to its intraday low of 1,350.7pts (-1.2%). Notably, VIC and VHM became today’s largest laggards, losing 2.1% and 2.3% to VND119,100 and VND110,000, respectively. Several Financials and Materials large caps losing ground included CTG (-3.1%), TCB (-3.1%) and HPG (-2.6%), together taking 9.2pts off the index’s move. On the other hand, only several blue chips managed to stay away from the sell-off wave and ended up, led by GAS (+3.6%), VCB (+1.2%), PLX (+2.2%) and VCG (+5.1%). However, these advancers were dwarfed by the other bearish large caps. At the end of the session, the VN-INDEX lost 10.8pts to 1,356.5pts. The HNX-INDEX also fell 1.5% to 313.7pts. Foreign investors recorded a net sell value of VND110.9bn in today’s session.

Read the full daily report here: Daily Market Recap Jun 16 – PNJ