Give us your feedback

Vietnam Daily Market Recap Sep 14, 2022 – Economic update

Daily Market Recap 14/09/2022    77

Share

Market commentary: The VN-Index narrowed the decrease after testing the 50-day Moving Average level

After a widespread selloff in the morning, the VN-Index gained momentum and narrowed the decrease to 7.6pts, closing at 1,240.8pts. The U.S three main indexes slumped on Tuesday due to worse-than-expected inflation data. The VN-Index opened with an 18-points gap down following the plunge of Wall Street. Throughout the morning session, the VN-Index focused on maintaining the technical support of the 50-day Moving Average level at 1230pts. After successfully testing the support level, the bottom-fishing made some stocks increase such as PVD (+5.2%) and PVB (+2.7%). Moving to the afternoon, the market momentum increased, which made mid-cap stocks in Security and Construction sectors rise, such as HCM (+5.8%), FTS(+3.6%), C4G (+3.6%), and FCN (+3.3%). Moreover, the increase in market liquidity with a total value of about VND15,000bn showed that the market was able to absorb the selloff. Although large-cap stocks like VIC (-1.1%), SAB (-3.7%), VHM (-1.2%), VNM (-2.3%), and GAS (-1.5%) were the laggards, the contributions from EIB (+7.0%), VCB (+0.4%), DXG (+5.5%), and VRE (+0.5%) were strong enough to prevent the index from dipping sharply. The VN-Index closed at the high intraday of 1,240.8pts, decreased by 0.6%. Meanwhile, the HNX-Index was down 0.8% to 279.4pts.

Read the full report: HERE

 

DMCA.com Protection Status