Vietnam Daily Market Recap Dec 01, 2022 – Navigating 2023

Market commentary: VN-Index broke its gaining series with strong profit taking cash flow emerged in late trading

VN-Index broke its consecutive surge in the first session of December, edging down 12.4pts to 1,036.3pts due to strong selling pressure in late trading. Continuing the positive sentiment from previous sharp gains, the VN-Index opened its morning session with an immediate gap up of 6pts with green hue covering most sectors. The uptrend momentum expanded for the whole morning, helping the index to touch its intraday high of 1.065pts right before noon break with solid contribution from several market pillars. In the afternoon session, the uptrend broke and gradually decelerated with profit taking cash flow lurked into the market. Going towards the end of the sessions, selling pressure magnified, dragging the index into the red with mass selling across stocks that experienced a sharp gain from the previous days. Notably, liquidity maintained its improvement trend with total market trading value recorded at VND21,830bn, 42% higher than previous session while foreign investors stretching its net bought streak with additional VND1,100bn in today’s session. Vingroup’s related stock became today’s to laggard with VIC (-5.2%), VHM (-1.8%) and VRE (-1.8%) all recorded a decline. On the other hand, some of the large caps were today’s major traction, led by TCB (+5.8%), GVR (+4.2%), PLX (+4.2%), MBB (+2.3%), SHB (+5.5%) and ACB (+1.8%). At the end of the session, the VN-Index dropped 1.2% to 1,036.3pts while the HNX-Index increased 1.1% to 221.0pts. 

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