Vietnam Daily Market Recap Nov 19 – VHM & Property Sector note

Market Commentary: The VN-INDEX fell 1.2% as market pillars tumbled

The VN-INDEX lost 17.5pts on the last trading day of the week as strong selling pressure emerged across all sectors, especially the Financials large caps. Vietnam’s main stock market began Friday’ session in positive sentiment as almost all large caps started trading in the green. Large caps from the Financials sector became the market’s mover, led by HDB (+6.9%), VPB (+2.3%), CTG (+2.0%), TCB (+1.6%), and ACB (+2.9%). These stocks contributed 4pts to the index. Other large caps also joined the rally, including GEX (+3.9%), SSI (+1.1%), and DIG (+2.6%). However, in the afternoon session, selling pressure emerged and forced market pillars to fall. GAS became the biggest laggard today, plunging 6.9% to VND106,000 and alone taking  5.6pts off the index. The stock was followed by VHM (-2.8%), HPG (-3.9%), GVR (-5.4%), and VNM (-2.2%). Thus, the VN-INDEX quickly fell to its intraday low of 1,434.7pts (-2.3%). At the end of the session, the VN-INDEX plunged 1.2% to 1,452.4pts and HNX-INDEX also fell 3.2% to 454.0pts. 

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