Vietnam Daily Market Recap Aug 25

Market Commentary: The VN-INDEX rebounded after turbulent sessions

The VNI-INDEX edged up 10.8pts to 1,309.6pts in Wednesday’s session after three consecutive days of decline. The market opened the morning session with a slight gain of about 5.0pts, showing an attempt to recover from yesterday’s session. However, selling pressure soon emerged and dragged the index to red territory and made it touch the intraday low of 1,291.7pts (-0.5%). Vingroup related stocks are today’s top losers, including VIC (-0.8%) and VNM (-0.3%), and together erased 1.0pts from the index. However, in the afternoon session, the market suddenly changed direction due to strong buying demand and sharply pushed the index to rise. Consumer pillars became the top movers in today’s session, led by MSN (+5.1%), SAB (+3.4%), and VNM (+0.7) and together contributing 3.3pts to the index’s advance. Other large caps also join the rally including GVR (+3.5%), GAS (+1.5%), HPG (+1.4%) and POW (+6.6%). The positive sentiment lasted until the end of the session, helping the VN-INDEX to close at its peak of 1,309.6pts (+0.8%). Besides, HNX-INDEX also had an increasing session by edging up 1.27% to close at 336.0pts.

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