Vietnam Daily Market Recap May 22, 2023

Market commentary: The VN-Index gained marginally on the back of the Construction & Materials sector

The VN-Index increased 0.3% to end at 1,070.6pts on the first trading session of the week. Following the recovery in the late trading of the previous session, the VN-Index opened flat and then gradually increased to its intraday high of 1,070.6pts with major support from Construction & Material stocks, including HHV (+5.3%), FCN (+4.8%), C4G (+5.5%) before selling pressure took part, pushing the VN-Index close the morning session near the reference point. After slight selling pressure in the early afternoon session, the VN-Index quickly climbed and closed to its intraday high, which had been achieved in the morning session. TCB was the biggest supporter today, jumping 2.9% to close at VND30,500 and alone adding 0.7pts to the index’s advance. Other top movers were VPB (+2.1%), PGV (+4.1%), GVR (+1.5%), and MBB (+1.1%). On the contrary, VCB became the largest laggard, slumping by 1.2% to VND93,100 taking away 1.3pts to the index, followed by other large-caps, including VIC (-0.8%), VNM (-0.6%), MSN (-0.6%), and GAS (-0.2%). At the end of the session, the VN-Index inched up 0.3% to 1,070.6pts, while the HNX-Index also gained 0.9% to 215.9pts.

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