Vietnam Daily Market Recap Sep 08 – VTP

Market Commentary: Red color covered  the stock market

The VN-INDEX lost another 8.3pts in Wednesday’s session due to weak performance of Real Estate and Financials large caps. Following the previous session’s bearish, Vietnam main’s stock market started with a cautious sentiment and fluctuated at the reference point throughout the morning session. HPG was the biggest supporter today, which rose 1.2% boosted by the good news about sales volume in Aug. The stock alone added 0.7pts to the index’s gain. Other large caps joined the rally including SSI (+6.9%), SAB (+0.8%), BCM (+1.5%), and HSG (+3.2%). SSI was outstanding in today’s session on HoSE with a ceiling gain, adding 0.5pts to the index. However, due to the recent strong increase in the market, many investors have been taking profits to preserve their profits, thus keeping the index stay in the red territory throughout the afternoon session. Selling pressure targeted the Real Estate sector with VIC (-2.0%), VHM (-1.6%), and NVL (-0.8%), which took 3.5pts from the index’s move. Market pillars from the Financial sector also lost ground, led by VPB (-2.4%), TCB (-1.7%), and CTG (-1.5%). As a result, the market was pushed down to its intraday low of 1,328.3pts (-0.9%). At the end of the session, the VN-INDEX plunged 0.6% to 1,333.6pts while the HNX-INDEX rose  0.2% to 347.3pts. 

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