Vietnam Daily Market Recap Aug 31 – BCG

Market Commentary: The VN-INDEX continued the uptrend momentum to reach 1,331.5pts 

The VN-INDEX gained 3.3pts on the back of positive performance across almost all sectors. After the opening bell, the VN-INDEX started in a positive sentiment as many large caps started trading in the green. The biggest contribution came from GVR which increased 3.1% to VND38,750 and alone added 1.2pts to the index’s move. The stocks were followed by GAS (+2.2%), MSN (+1.8%), HPG (+1.2%), and BCM (+5.4%). As the index rose strongly in previous sessions, selling pressure emerged before daybreak and targeted the Financials sector. TCB (-1.4%) was the  largest laggard today, followed by CTG (-1.6%), BID (-1.3%), MBB (-1.8%), HDB (-2.8%), STB (-2.0%), TPB (-1.6%), and ACB (-0.5%). These stocks together took 3.1pts from the index and pushed the index down to the red territory. However, many large caps lent support, leading the market to quickly recover and gradually rose to its intraday high of 1,336.1pts (+0.6%). At the end of session, the VN-INDEX increased 0.3% to end in the green at 1,331.5pts and the HNX-INDEX also edged up 0.4% to 342.8pts. In addition, foreign investors continued to net sell in the 4th consecutive session with a total value of VND99.2bn and mainly focused on MSN, VHM, and VNM. 

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