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Vietnam Daily Market Recap May 25, 2022 – HDG & VRE

Daily Market Recap 27/05/2022    34


Market Commentary: With substantially increased liquidity, the VNINDEX had a robust rally

The VN-INDEX kept its upward momentum going throughout the day with the liquidity improved by roughly 30%, which contributed to the Index rising by 35.5pts to 1,268.4pts. US investors dumped stocks on Tuesday and bet on less aggressive policy from the Federal Reserve, after disappointing economic data fanned fears that growth in the US was calm to dramatically slow. Meanwhile, VN-INDEX opened positive with a gap of 5.1pts. After making a spectacular recovery at the end of the previous day, many sectors continued to attract cash flow, particularly the Banking, the Information Technology, and Oil & Gas sectors. On the other side, the Material sector continued to exert pressure on the Index after receiving unfavorable news on media, causing the Index to struggle around 1,240.0pts before rebounding strongly with support from all groups. Following the positive movements in the morning session, the market maintained its gaining momentum with the liquidity continuing to improve strongly in the afternoon. The VN-INDEX achieved a session high of 1,268.4pts and maintaining a positive market breadth after breaking above an important level of resistance residing at 1,250.0pts. The leading stocks continued to put their dominance over the equities that caused friction in the market. VPB (+5.0%), VCB (+1.8%), VNM (+4.4%), FPT (+6.9%), BID (+3.4%), and GAS (+2.5%) added up to 9.3pts to the market. On the other hand, HPG (-1.3%), PDR (-0.8%), PDN (-6.3%), ROS (-3.5%), and STG (-2.3%) subtracted 0.7pts from the VN-INDEX. At the end of the session, the VN-INDEX increased strongly 2.8% to 1,268.4pts, and the HNX-INDEX rose 2.9% to 314.9pts.

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