Vietnam Daily Market Recap Dec 20

The VN-INDEX lost 0.2% to land at 1,477.3pts due to strong profit taking activities in late trading. After the opening bell, the index started in the red territory then quickly moved to the green as the market enjoyed strong buying demand. Specifically, VCB was the biggest supporter, rising 3.1% to VND99,500 and alone added 2.9pts to the index’s move, followed by other Financials stocks such as VIB (+3.8%), VND (+6.5%) and TPB (+4.7%). Other market pillars also joined the rally and further strengthened the index’s gain, led by MSN (+2.9%), POW (+6.7%). However, shortly after the rise, the VN-INDEX fluctuated around the reference point and the index fell to its intraday low of 1,468.9pts as Real Estate large caps fell under strong selling pressure. Notably, VIC and VHM became today’s top laggard, losing 2.9% and 1.2% to end at VND99,000 and VND83,500, respectively, together wiping 4.1pts off the VN-INDEX. Other market pillars also joined the sell-off, including GAS (-2.3%), GVR (-1.7%), and CTG (-1.5%). At the end of the session, the VN-INDEX lost 0.2% to end at 1477.3 pts, and the HNX-INDEX decreased 0.4% to 454.6pts.

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