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Vietnam Daily Market Recap Sep 15, 2022

Daily Market Recap 15/09/2022    47

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Market commentary: The VN-Index increased 0.4%, liquidity in today’s session is the lowest in three months

The VN-Index recovered and gained 10.0pts in the morning, yet failed to maintain its momentum and ended up closing at 1246.7pts. The US stock market rallied again in Wednesday’s trading session (+, as investors bounced back from Tuesday’s steepest sell-off in more than two years, after the U.S. Labor Department released its August CPI report showing inflation is higher than expect. Following the US market, VN-Index opened with a positive sentiment, immediately increased 7.8pts after the ATO session which saw price increases from large caps including VRE, TPB, SAB, GAS, NVL, MSN and fertilizer stocks helped strengthen the market. The bright spot of today’s session came from the industrial zone stocks and utilities, in which BCM (+6.3%), IDC (+3.7%), SIP (+3.6%), VGC (+2.9%). However, selling pressure soon emerged and the index failed to maintain its momentum as before as many large caps dropped in price, in which, VIC lost 0.8%, VJC lost 0.7%, HPG lost 0.8%. The largest support came from BCM (+7%), VCB (+1.15%), NVL (+2.2%), EIB (+6.8%), VHM (+0.8%), GVR (+2%), VNM (+0.7%). On the contrary, top laggards today included BID (-2.1%), GAS (-0.6%), MBB (-1.1%), TCB (-0.5%), HPG (-0.4%), DGC (-1.4%), SSI (-1.4%). Notably, today’s session HOSE liquidity hit a record low in three months and liquidity in the afternoon session was lower than in the morning. With such poor liquidity, it can be considered a success when the market is able to maintain a sideway level as the sentiment is quite stable among stockholders. The slight recovery momentum returned in the late afternoon session, the VN-Index gained 4.9pts to reach 1245.7pts and the HNX-Index inched up 0.1% to 279.7pts.

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