Vietnam Daily Market Recap May 27, 2022 – PVD

Market commentary: Sustaining an upward trajectory of VN-INDEX was made possible by VN Diamond stock basket

With the primary support coming from VN Diamond, the VN-INDEX was able to keep its gaining momentum going throughout the session, and it finished the day up 16.9pts, at 1,285.4pts. The S&P 500 ended the day up 2%, while the tech-heavy Nasdaq Composite advanced 2.7%, the biggest gain for both in a week, while, VN-INDEX opened with a increasing gap of 2.0pts. Before stocks from VNDiamond basket began to attract capital flow, the VN-INDEX had some minor fluctuations in the first few minutes around the key resistance level Technical MA20 (1,272.0pts). Then, the VN-INDEX saw a significant rally and thoroughly conquered the resistance level at MA20 for the remainder of the morning session. Following the favorable movement in the morning, the capital flow continued to expand across the market and migrated to other sectors such as Materials, Finance, Real Estate, and Consumer. The market as a whole, and particularly large-cap codes, achieved a high level of consensus, which contributed to the Index’s robust advance and brought it near to the level of resistance that ranges from 1,290.0 to 1,300.0pts. The VN-INDEX went through a brief period of volatility here as a result of a sudden increase in profit-taking, but it immediately recovered to its previous level before trading began for the ATC session. MWG (+5.5%), FPT (+5.9%), GAS (+2.2%), VHM (+1.5%), ACB (+4.8%), VNM (+2.4%) were stocks that had a positive correlation with the market. Meanwhile, DGC (-4.9%), BCM (-1.2%), STB (-0.7%), BCG (-2.6%), BHN (-1.8%), LPB (-1.0%) only removed 0.9pts from the index. At the end of the session, the VN-INDEX increased 1.3% to 1,285.4pts, while the HNX-INDEX decreased 0.7% to 311.2pts.

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