Vietnam Daily Market Recap May 19, 2022

Market commentary: The VN-INDEX maintained at green position thanks to strong recovery after morning dip

The VN-INDEX remained to stay in green territory, edging up modestly 0.1% to 1,241.6pts, for the third consecutive session thanks to strong traction from several large-cap stocks. Reacting to the negative session in the yesterday US market stock, along with official information on disciplinary proceedings against the State Securities Commission leaders, the index quickly dropped right after the opening bell with a sharp gap down of 28.0pts. However, after touching its intraday low, the market then started to gradually recover for the whole morning session, thanks to strong bottom-fishing behavior, pulling the index back to the reference level until noon break. Although there was still a stumble in the afternoon session, causing a sharp drop in sometimes, the index still maintained its recovering momentum and ended the session at the green territory, MSN was today’s top movers by increasing 7.0% and alone adding 2.8pts for the index’s advance. Other large caps also joined the rally, including VCB (+0.8%), DGC (+5.9%), OCB (+6.6%), GAS (+0.8%), SHB (+4.0%) and REE (+4.8%). On the other hand, several Finacial large caps recorded a upstream movement and restraint the index gap up, including CTG (-1.9%), VPB (-1.6%), TPB (-3.3%), EIB (-3.5%), BID (-0.7%) and VIB (-3.0%). At the end of the session, the VN-INDEX went sideway by edging up 0.8pts to 1,241.6pts, while the HNX-INDEX recorded a decrease of 1.8pts to 308.0pts.

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