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Vietnam Daily Market Recap June 09, 2022 – HPG

Daily Market Recap 09/06/2022    21


Market commentary: The VN-Index fluctuated in a narrow range

The market displayed a distinct divergence as it fought near the reference level and ended the day without changing its stance at 1,307.8pts. European shares fell on Thursday ahead of a meeting of the bloc’s central bank, where it is expected to spell out its plans for monetary policy tightening to curb persistently high inflation, while, VN-Index opened cautiously with a gap up of 2.5pts. Following the favorable rise seen in the previous session, the capital flow continued to expand to many sectors, particularly VN30, Financial, Oil & Gas, and Materials sector. As a result, the market was able to increase swiftly and reach its highest point of the day at 1,312.4. The selling force, on the other hand, instantly rose considerably here, concentrating on Real Estate and Banking, as well as sectors that have had notable gains recently, such as Fertilizers, Aquaculture, and Oil & Gas also were put under correction force. Throughout the remainder of the morning session, the market failed to get above the reference level. During the afternoon session, there was a quick uptick in selling activity, which brought the Index down to the crucial support level of 1,300.0pts. On the other hand, there was a substantial surge in demand for bottom fishing, then the VN-Index gradually returned to the green hue before the ATC session began. Notably, in the context of a 24% decrease in liquidity compared to the previous session, the number of gainers and losers was almost equal in today’s session. The stocks HPG (+2.7%), GVR (+1.5%), VGC (+0.8%), STB (+3.2%), POW (+3.2%), and VRE (+1.6%) were the ones that were primarily responsible for playing the supporting role. VCB (-1.8%), GAS (-1.0%), SAB (-1.7%), VNM (-1.1%), VPB (-0.9%), MSN (-0.7%) were stocks that dropped today. At the end of the session, the VN-INDEX was unchanged at 1,307.8pts, while the HNX-INDEX increased 0.6% to 312.7pts.

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