Vietnam Daily Market Recap May 05

The VN-INDEX recovered from afternoon dip thanks to strong support of Vingroup’s stocks and Financial large caps, helping the index to close the day with a 12.0pts gap up to 1,360.9pts. In contrast to yesterday’s negative sentiment, the index opened with a solid rise of around 11pts right after the opening bell, but again, with a modest liquidity due to investor hesitation, reacting to the yesterday Fed interest rate adjustment. However, the rising momentum soon decelerated with strong selling pressure spread on almost all sectors, causing the index to retreat back to the reference level right before noon break. The afternoon session took place with stronger negative sentiment, as there was a point, VN-INDEX lost more than 17.0pts and touched its intraday low of 1,332.2pts. However, a strong breakthrough of several large caps, notably, Vingroup’s stocks, MSN and several Financial large caps pulled the index back to green territory in the late trading session. In particular, VHM contributed the most by alone adding 4.8pts for the index’s advance. Other large caps also joined the rally, including MSN (+5.2%), VCB (+1.4%), BID (+2.6%), and CTG (+3.3%). On the other hand, today’s top laggards included DIG (-4.8%), PLX (-2.2%), VPB (-0.7%), SSI (-3.1%), and HSG (-6.5%). At the end of the session, the VN-INDEX edged up 0.9% to 1,360.9pts while the HNX-INDEX dropped 0.6% to 358.7pts in today’s session.

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