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Vietnam Daily Market Recap May 11, 2022 – Earnings review

Daily Market Recap 11/05/2022    44


Market commentary: The VN-INDEX rose 0.6% despite early trading sell-off with significant low liquidity

The VN-INDEX rose by 8.0pts to 1,301.6pts today, thanks to the recovery of Real Estate and Banking sectors in late trading. Despite yesterday’s positive trading session, the market stayed in green for a short period then immediately dipped into the red territory right after the opening bell. The negative sentiment gradually accelerated and spread out almost all sectors for the whole morning session, pushing the index to its intraday low of 1277.9pts before mid-day closed. From the 2nd half of the afternoon session, the VN-INDEX moved back to the green territory and struggled around the reference level. However, with the recent strong fluctuation of the market, investors are afraid of returning to the market, causing today’s liquidity dropping to a significantly low level of VND13,047bn on 3 bourses. Before entering ATC session, a buying demand for stock in the Real Estate sector and few large caps emerged and pushed the index to its intraday high of 1305.2pts. The biggest laggards of today’s session included CTG (+6.0%), BCM (+5.7%), FPT (+3.6%), VHM (+0.9%), EIB (+7.0%). On the other hand, some of the stock still suffered from strong selling pressure, including MSN (-3.6%), VNM (-1.6%), HPG (-1.1%), PLX (-2.8%), VJC (-2.0%). At the end of the session, the VN-INDEX rose 0.6% to 1,301.6pts. The HNX-INDEX also edged up 0.9% to 333.0pts. 

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