Vietnam Daily Market Recap May 09, 2022

Market commentary: Strong selling pressure continued to push the VN-INDEX down deeply 

The VN-INDEX began the week by falling 59.6pts in Monday ‘s session as “blue” covered almost all market pillars.  Following the pessimistic manner in Asia market, the VN-INDEX started Monday session in the red and quickly decline 21pts after the opening bell. The VN-INDEX dropped its first beat to 1,299pts in the first 30 minutes of the session. Investors’  negative sentiment after the recent plunge caused the selling pressure to increase sharply, making the market to sink deeply into red. VN-INDEX increased its decline to 40pts, then 47pts and took a lunch break at 1,282pts. Not stopping there, selling pressure increased when the afternoon session opened. VN-Index was deeply pressed, sometimes losing more than 62pts. VN30 dropped simultaneously, in which market pillars such as CTG, MWG, PLX, SSI all hit the floor price. Banking sector continued to be in the top 10 stocks with the most negative impact on VN-INDEX including BID (-6.9%), VPB (-6.9%), TCB (-7.0%), CTG (-6.9%), VCB (-1.9%), and MBB (-6.4%). These stocks together took 14.4pts from the index. Today’s liquidity reached VND18,768bn, increasing VND1,860bn compared to last week’s session. The trading value is still at a low level but has increased for four consecutive sessions, showing the signal of cash flow at low price. While domestic investors sold out massively, foreign investors took advantage of net buy with a total value of VND622.0bn and focused mainly on VHM, HPG, and GMD. At the end of the session, the VN-INDEX dropped 4.5% to 1,269.6pts and the HNX-INDEX also plunged 5.8% to 323.4pts. 

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