Vietnam Daily Market Recap Oct 13

Market Commentary: The VN-INDEX failed to surpass 1,400pts

The VN-INDEX broke the uptrend and edged down 2.9pts to 1,391.9pts after six consecutive gaining sessions. Following the uptrend momentum in the past sessions, the VN-INDEX quickly moved to green territory right after the opening bell and touched its intraday high of 1,400.4pts (+0.4%). Several large caps supported the index’s advance, including MWG (+1.4%), PDR (+2.4%), VIC (+0.2%), VJC (+1.1%), PNJ (+1.0%), and GVR (+0.8%). However, right after touching the 1,400pts, the index suddenly turned around due to strong selling pressure emerging in the market and pulled the index back to the reference level right before noon break. The negative sentiment continued to escalate in the afternoon session and dropped the index to touch its intraday low of 1,389.9pts (-0.2%) before closing. Notably, VNM (-0.3%), MSN (-1.6%), TCB (-1.1%), GAS (-0.9%), PLX (-2.2%), and BVH (-3.1%) are some of the main contributors for the declining of the index. At the end of the session, the VN-INDEX inched down 0.2% to 1,391.9pts while the HNX-INDEX stayed in green territory by increasing 0.9% to close at 379.3pts in today’s session.

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