Vietnam Daily Market Recap Apr 15

Market commentary: Negative sentiment continued to spread out

VN-INDEX witnessed a strong selling force in Bank sector, dragging the market fall back into a supported level around 1,440-1,460pts. In the context that China has restricted over 30% of the population, investors hoped for some supported actions from the government. However, the interest rate in China was announced to stay the same today, causing stock markets to decrease all over Asia. VN-INDEX also could not avoid this negative sentiment. Despite staying in the green territory in the morning session, strong selling pressure in the afternoon pushed the VN-INDEX to fall deep into the negative zone. Bank sector had to take the most responsible for this with BID (-3.0%), TCB (-3.6%), VPB (-2.5%), etc. In the contrast, the cashflow today flew into Rubber and Insurance sector, contributing the most points to the index. Stock in those sectors included GVR (+4.2%) and BVH (+6.9%). At the end of the session, the VN-INDEX decreased 0.9% to 1,458.6pts, and the HNX-INDEX also plumped 1.7% to 416.7pts.

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