Vietnam Daily Market Recap May 19, 2023 – Power

Market commentary: The VN-Index edged down to 1067.7pts as correction pressure rose

The VN-Index lost 1.2pts to land at 1,097.5pts as large caps corrected in the late trading session. The VN-Index moved downward after the opening session due to the correction of stocks in the VN-30 basket. However, it took the Securities sector not much time to become the main pillar that assisted the VN-Index to return to its reference level. Some of the notable names that gained significantly were VND (+3.9%), VIX (+3.2%), and BVS (2.2%). The flat movement of the index only remained until the mid-afternoon session, when sudden selling pressure emerged in the market. As a result, the VN-Index quickly retreated to its intraday low of 1058.6pts before recovering in the late trading. VHM (-1.6%) and VCB (-0.8%) became today’s top laggard, together eroding 1.9 pts of the index. The others included VIC (-1.3%), BID (-0.6%), and VNM (-0.9%). The increases of top market movers like GAS (+2.1%), GVR (+2.5%), STB (+5.6%), CTG (+0.9%), and VND (+3.9%) were not enough to push the VN-Index to the green territory. At the end of the session, the VN-Index decreased slightly by 0.1% to 1,067.1pts, while the HNX-Index inched up 0.4% to 213.9pts.

Read the full report: HERE