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Vietnam Daily Market Recap May 06, 2022 – STK

Daily Market Recap 06/05/2022    34


Market commentary: Market pillars tumbled, pushing the VN-INDEX down to the red after a recover session 

The VN-INDEX fell 2.3%, the biggest drop in nearly two week, as most large caps lost ground today. Following the U.S. stock market sell-off, the VN-INDEX started in a pessimistic manner and quickly lost ground by 27.0pts right after the opening bell. The context of the U.S. stock market’s sharp drop had an immediate impact on investor sentiment in Vietnam, pushing down key sectors such as Banking, Security and Real Estate. Banking stocks were most responsible for the index’s decline today with VCB (-2.0%), VPB (-3.9%), and BID (-3.1%). These stocks together took 5.1pts off the index. With a large capitalization which has a strong impact, the Banking sector also recorded a sharp drop in CTG (-3.2%), TCB (-2.6%), SHB (-6.1%), STB (-5.2%), MBB (-3.4%), thereby all participating in the list of stocks with the most negative impact on the market today. Securities stocks also could not avoid selling pressure with SHS, HCM, APG, SSI, VND, VDS, VCI, and AGR sinking in “blue”. Although the Steel stocks got better in the morning,  these stocks also lost ground at the end of the session with HPG (-0.6%), NKG  (-1.1%), and VGS (-1.2%), in which only HSG and POM remained in green. On the other hand, the glimmer of green in some large caps such as REE (+4.6%), GAS (+0.4%), HSG (+5.5%), NLG (+3.0%), VSH (+6.8%), VHC (+2.5%) could not help the VN-INDEX avoid a sharp drop. At the end of the session, the VN-INDEX dropped 31.4pts to 1,329.3pts and the HNX-INDEX also plunged 15.3pts to 343.5pts.

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