Vietnam Daily Market Recap Apr 20, 2022

Market commentary: The VN-INDEX fell 1.6% as panic selling dominated late trading

The VN-INDEX had a tumultuous trading session before the panic selling in the late afternoon actively contributed to the deepening of the VN-INDEX’s losses. After a bearish trading session, The VN-INDEX opened with a 5.0pts gap down following yesterday’s sharp drop. Although most sectors in the morning session suffered from selling pressure, VNINDEX still moved to the green territory thanks to the buying demand of investors for the Financial sector.Throughout the morning and early afternoon session, the market wavered and struggled to remain above the reference level with low liquidity. Towards the close of the afternoon session, a strong sell-off put pressure on the whole market, leading the Index to fall strongly. Since panic selling across all sectors, the VN-INDEX fell for the 5th time in a row with increasing amplitude, pushing the index to its intraday low of 1384.7pts. GAS was the biggest laggard after dropping 6.4%, alone whipping 3.6pts of the index. Market pillars such as GVR (-7.0%), VHM (-3.0%), BCM (-4.3%), SHB (-6.9%) were stocks that had a positive correlation with the market. On the other side, MSN (+3.2%), VCB (+0.9%), SAB (+1.8%), VIC (+0.6%), VHC (+4.3%) slightly reduced the index’s dropping momentum. At the end of the session, the VN-INDEX decreased dramatically by 1.6% to 1,384.7pts, and the HNX-INDEX dropped significantly 3.2% to 380.0pts.

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