Vietnam Daily Market Recap Oct 20

Market Commentary: The VN-INDEX stumbled in the late trading session

The VN-INDEX edged down modestly to 1,393.8pts with another failed session to conquer the 1,400pts area. The market quickly moved to the green territory, right after the opening bell, and maintained to stay in this position in the whole morning session. In the afternoon, the uptrend suddenly narrowed down due to mass selling action in various large caps, pulling the index back to the red territory to touch its intraday low of 1,377.7pts (-1.2%). Notably, VCB became the biggest loser in today’s session by declining 1.5% and alone erasing 1.4pts from the index. Other large caps also contributed to the index’s loss, including VHM (-0.3%), SAB (-2.1%), CTG (-1.0%), HPG (-0.5%), BID (-0.7%) and FPT (-1.0%). However, the downtrend then quickly prevented due to strong bottom-fishing activities and dragged the index back to approach the reference level right before the close. Only a minority of large caps supported the late gain, led by MSN (+1.5%), TCB (+0.5%), VRE (+2.1%), PDR (+3.1%). At the end of the session, the VN-INDEX failed to get back to the green territory and decreased 0.1% to close at 1,393.8pts. The HNX-INDEX inched up 0.3% to 388.3pts.

Read the full report: HERE