Vietnam Daily Market Recap Nov 30

Market Commentary: The VN-INDEX dropped 0.4% to 1,478.4pts

The VN-INDEX lost 6.4pts as investors sold Financials, despite some support from the Materials sector. After the opening bell, optimistic sentiment propelled the index to hit its intraday high of 1,503.9pts and stay in the green territory within the morning session. The selling pressure pushed the index into red territory in the afternoon session. The selling pressure targeted Financials large caps, led by VCB (-2.2%), CTG (-2.0%), VPB (-1.8%), and MBB (-2.7%). These stocks took off the most points from the index. Other large caps also lost ground including MSN (-2.2%) and GAS (-1.1%). Thus, the VN-INDEX stayed in the red territory for the whole session. On the other hand, some blue chips advanced and prevented the index from falling deeper. Notably, Materials had a positive day, with GVR providing the largest support. The stock rose 5.4% to its selling price, alone contributing 2.1pts to the market, followed by other large caps such as HPG (+1.1%), GEX (+6.1%), VGC (+7.0%), and VCG (+6.3%). At the end of the session, the VN-INDEX plunged 0.4% to 1,478.4pts and the HNX-INDEX also decreased 0.6% to 458.1pts.

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