Vietnam Daily Market Recap Mar 21, 2023

Market commentary: VN-INDEX witnessed a strong bounce back in the afternoon session

The VN-INDEX gained 9.3pts to 1,032.4pts with major support from Banking sector. Following the solid rise of US and EU markets, the VN-INDEX kicked off the morning session in a green hue but gradually sank to its intraday low of 1,017.1pts, as the liquidity stayed at a low level. In the afternoon session, capital flows of foreign investors help the index rise sharply toward the session’s end. VHM became the largest mover, jumping by 6.7% to VND45,400, followed by other Banks, including VCB (+1.6%), VPB (+3.3%), CTG (+1.1%) and STB (+1.7%). On the other hand, MSN (-1.7%), SAB (-1.6%), HDB (-2.2%), VJC (-1.7%), and PLX (-2.0%) were today’s top laggards, preventing further growth. Notably, foreign investors net sold in the morning and bought in the late afternoon session, reaching the net bought of over VND107bn. At the end of the session, the VN-INDEX rose 0.9% to 1,032.4pts, and the HNX-INDEX also edged up 0.7% to 203.1pts.

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