Vietnam Daily Market Recap May 23, 2023 – ACB & PVS

Market commentary: Selling pressure remained strong at resistance level

The VN-Index dropped 4.8pts to 1,065.8pts, erasing solid efforts of the buying forces in yesterday’s trading session. Following the 0.3% gain of the VN-Index yesterday, the index kicked off the morning session with positive sentiment and created a gap up of nearly 3.0pts compare to yesterday’s session. After reaching its intraday high of 1,074.0pts, the index witnessed selling pressure and gradually slumped to red territory at the end of morning session. In the afternoon session, selling pressure targeted Real Estate and Steel stocks, pushing the index down further. GAS became the largest laggard, and fell by 1.6% to VND93,200, followed by other blue chips, including BID (-1.2%), VNM (-1.8%), MSN (-2.2%) and VHM (-0.7%). On the other hand, VIC (+1.0%), PGV (+4.4%), ACB (+1.2%), REE (+3.3%), and BVH (+1.8%) were today’s top movers, helping the index to bounce back. At the end of the session, the VN-Index decreased by 0.5% to 1,065.8 pts, and the HNX-Index also edged down 0.1% to 215.8 pts.

Read the full report: HERE