Vietnam Daily Market Recap Sep 05, 2022 – HPG

Market commentary: The VN-Index remained a cautious momentum, edging down modestly in today session

The VN-Index fell 3.6pts to 1,277.3pts on the first day back to work, owing primarily to the retreat of Financial large caps. Continuing the cautious sentiment from previous sessions, investors’ defensive cash flow was visible in today’s session, causing the market to fluctuate in a narrow range with low liquidity. Thus, although the market opened positively in the green, it started to retreat after touching its intraday high of 1,285pts, and closed the morning session at the reference level. In the afternoon sessions, selling pressure accelerated and dragged the index in to the red territory. Several Financial large caps performed unimpressively today, including VCB (-1.7%), BID (-1.3%), VPB (-1.6%), CTG (-1.1%), TCB (-0.9%) and VIB (-1.8%). Although there was a strong traction from the Steel sector with positive performance from HPG (+3.9%), HSG (+6.9%), NKG(+6.8%) as well several VN30 large caps, including, VIC (+0.5%), VNM (+2.6%), SAB (+0.1%)  it was not enough to pull the index back to the green hue, thus, the market closed at a modest decline. At the end of the session, the VN-Index dropped 0.3% to 1,277.3pts, while the HNX-Index inched up only 0.3% to 292.8pts. 

Read the full report: HERE