Vietnam Daily Market Recap Aug 23

Market Commentary: The VN-Index fall from 1,300-pt level 

The VN-INDEX continued to lose 30.6pts in Monday session due to strong selling pressure in almost all sectors. After the opening bell, the market picked up the pessimistic sentiment from Friday’s session last week to fall further. VCB was the largest largard today, which plunged 2.8% to VND97,300 and solely took 2.8pts off the index’s move, followed by smaller Banking stocks such as TCB (-3.5%), MBB (-4.3%), BID (-3.0%), VPB (-3.0%), and ACB (-4.8%). Market pillars from other sectors also lost ground, including GVR (-5.9%), MSN (-5.1%), HPG (-3.1%), and VIC (-1.5%). Thus, the index managed to stay in the red territory throughout the session. On the other hand, very few notable stocks rose today, led by NVL (+1.2%), SSI (+1.4%), DCM (+3.6%), HPX (+5.0%), and FTS (+5.7%). At the end of the session, the VN-INDEX plunged 2.3% to close at its intraday low of 1,298.9pts with 244 losers. The HNX-INDEX also fell 0.9% to 334.8pts. 

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