Vietnam Daily Market Recap Aug 11 – VIB & KBC

Market Commentary: Selling pressure emerged in late trading push down the VN-INDEX

The VN-INDEX dropped 4.6pts due to the selling pressure from many market pillars, despite the early trading rise. Following the positive sentiment in the previous session, the VN-INDEX kicked off the morning session in the green right after the opening bell and gradually rose to its intraday peak of 1,374.0pts (+0.8%). The advance was mainly fueled by the Financials sector with VCB (+1.5%), VPB (+1.2%), TPB (+2.8%) and these stocks added a combined 2.3pts to the index’s move. Other large caps also join the rally including VNM (+1.7%), MSB (+3.3%), and DPM (+6.9%). Suddenly, selling pressure emerged in late trading and targeted market pillars from the Real Estate sector, led by VIC (-1.8%) and VHM (-0.9%). Other bearish large caps included GVR (-2.6%), MSN (-1.4%), and HPG (-0.9%), thus erasing all the morning gain. At the end of the session, as many large caps lost ground, the VN-INDEX closed at its intraday low of 1,357.8pts (-0.3%) and the HNX-INDEX also plunged 0.2% to 334.4pts. 

Read the full daily report: Daily Market Recap Aug 11