Vietnam Daily Market Recap Aug 16 – MML

Market Commentary: The VN-INDEX rise 1.0% to cement upward momentum

The VN-INDEX closed up 13.9pts today backed by Financials large caps. Following the positive sentiment from last week’s gain of 1.2%, the VN-INDEX opened optimistically and stayed in the green territory for the whole session. Specifically, GVR was the biggest supporter, rising 6.9% to its ceiling price of VND37,200 and alone adding 2.6pts to the index’s move. Market pillars from the Financials sector also joined the rally and further strengthened the index’s gain,led by TCB (+3.5%), MBB (+4.7%), VPB (+3.1%), VCB (+1.0%), BID (+1.8%), and CTG (+2.3%). Thus, the VN-INDEX gradually rose to its intraday high of 1,371.8pts (+1.1%). On the downside, Real Estate had a weak performance today with VHM (-3.3%) and VIC (-0.3%). Other large caps also lost ground included PLX (-1.5%), VNM (-0.4%), and VCG (-2.8%). At the end of the session, the VN-INDEX surged 1.0% to 1,371.0pts with 167 gainers and the HNX-INDEX also rose 2.0% to 343.5pts. 

Read the full daily report: Daily Market Recap Aug 16