Vietnam Daily Market Recap June 15, 2022

VN-INDEX sank deep into negative territory on the back of panic selling in several sectors. US stocks fell on June 14 as investors expected that the US Federal Reserve (Fed) might raise interest rates more strongly than forecasts, causing the S&P 500 to enter a bear market. Yet, the VN-INDEX opened in the green territory with the support of some market pillars such as MSN, FPT, HPG, SSI. However, the fear has spreaded out before the morning session closed and right after the lunch break, selling pressure was pushed to a high level and caused a series of large stocks to plunge. Financial and steel sectors strongly plummeted, thereby pushing the indexes down deeply, in which, many stocks in these sectors were dragged down to floor prices. The decline continued to widen before entering the ATC session, pushing the VN-INDEX to its intraday low of 1213.9pts. At the end of the session, although a series of stock groups fell to the floor, the index’s decline was narrowed thanks to the support of some large caps. MWG (+2.9%), followed by SSB (+3.0%), SAB (+1.3%), FPT (+1.6%) and VGC (+5.5%) contributed 2.1pts to the VN-INDEX. On the other hand, GVR (-6.9%), HPG (-3.0%), GAS (-1.6%), CTG (-3.0%), VNM (-2.4%), and PLX (-4.9%) were detracted 5.6pts from the index. At the end of the session, the VN-INDEX decreased 1.3% to 1,213.9pts, and the HNX-INDEX edged down 2.4% to 283.3pts. 

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