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Vietnam Daily Market Recap June 16, 2022 – VCB & MWG

Daily Market Recap 16/06/2022    30


Market commentary:Large-cap stocks were the driving force for the Index’s advance

VN-Index rebounded strongly throughout the day, with primary support from Blue-chip stocks, and closed the day up 22.7pts to 1,236.6pts. US stocks and government bond prices rebounded after five consecutive days of declines on Wednesday following the Fed’s announcement that it would raise interest rates by the most in nearly 30 years in an attempt to combat stubbornly high inflation, and the VN-Index opened positively with an increase of 13.3pts gap. After a few major stocks exerted corrective pressure, the index slid marginally to a session low of 1,223.0pts. Strong demand came from equities that have risen recently, such as Fertilizer, Energy, Oil & Gas, Aquaculture, and Retail, as well as those that had dropped sharply in prior sessions and had a technical recovery. The VN-Index climbed substantially over the remainder of the morning session. Following the positive moves seen in the morning, the capital flow continued to spread and made its way to other sectors, which contributed to the index reaching its highest level of the session at 1,246.3pts. However, due to significant selling pressure in Real Estate and Securities as well as selling force to manage investors’ accounts, the VN-Index dropped about 9.0pts all of a sudden just as the ATC session was about to begin. Notably, with liquidity down approximately 8% compared to the 5-day average, the VN-Index’s gaining impetus came from large-cap companies, while small and medium-cap stocks rebounded in a manner that was not very noteworthy. Stocks in the gaining group overwhelmed the losing group. Indeed, VCB (+3.4%), GAS (+3.2%), VNM (+5.4%), HPG (+5.4%), MSN (+4.4%), MWG (+6.9%) contributed a total of 11.7pts to the Index, while VND (-6.7%), DIG (-6.9%), DXG (-4.1%), SSI (-2.2%), VGC (-2.1%), GEX (-2.3%) took away only 1.3pts. At the end of the session, the VN-INDEX increased strongly by 1.9% to 1,236.6pts, while the HNX-INDEX rose by 1.6% to 287.8pts.

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