Vietnam Daily Market Recap May 26, 2023 – LPB

Market commentary: The VN-Index fluctuated around the reference level

The VN-Index closed 0.9pts down to 1,063.8pts as selling pressure against Banking large-cap stocks. Following the recovery in late previous trading session, the market had a positive start with a gap up of 2.6pts to achieve 1,067.3pts, that also its intraday high before selling pressure quickly emerged in the market and immediately pushed the index to the reference point also turning the Index in a glimpse of red hue then continue trading around that point in morning session. In the afternoon session, after two unsuccessful recovery attempts, the market settled 0.1% lower to close at its intraday low of 1,063.8pts due to the correction of Banking large-cap stocks such name as VCB (-1.3%) and BID (-0.8%). VCB became the top laggard, decreasing 1.3% to VND92,000 and alone taking away 1.4pts to the index. Indices were also weighed down by equities such as VIC (-1.1%), GAS (-1.1%), BID (-0.8%) and SAB (-1.6%). On the other hand, GVR (+2.7%), CTG (+0.7%), GEX (+4.5%), PGV (+1.6%), and HVN (+1.6%) were today’s top movers, preventing the index from falling further. At the end of the session, VN-Index declined 0.1% to 1,063.8pts, while the HNX-Index inched up 0.4% to 217.4pts.

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