Vietnam Daily Market Recap Feb 18 – VHM

Market Commentary: Large-caps stocks were under selling pressure

The pillar stocks were under downward pressure after being strongly dragged up in the ATC session yesterday, but the VN-INDEX was able to avoid falling too far into the red thanks to the assistance of medium-sized stocks. The market began negatively with a 13.7pts gap down, and as a result of negative information notably the reappearance of the “ghost” of the Ukraine war, major indices in the world all plummeted severely yesterday night. Stocks in the VN30 basket, which were instrumental in the market’s robust rebound yesterday, were under intense selling pressure today. However, the bottom-fishing force was immediately activated, and mid-cap, real estate, steel, and aviation stocks all attracted money, allowing the Index to gradually recover above the critical support level of 1,500.0pts. The approval by the Ministry of Health to sell and manufacture medications to treat Covid-19 resulted in a significant increase in the price of Healthcare sector (+3.9%). Opening the afternoon session, the market continued to trade in a divergent manner, struggling around the 1,504.0pts threshold until strong demand from real estate stocks enabled the market recover and return as close to the benchmark. VJC (+5.2%), DIG (+6.8%), HPG (+1.2%), HVN (+1.9%), DHG (+6.9%), and VGC (+3.7%) were the top leader stocks that have made significant contributions to the market’s retaking of the critical support level of 1,500.0pts. Large-cap stocks, on the other hand, were under negative pressure after being strongly hauled up in the ATC session the day before, including BID (-2.8%), VHM (-1.4%), VIC (-1.1%), GAS (-1.4%), and TCB (-1.2%). At the end of the session, the VN-INDEX slightly plumped 0.2% to 1,504.8pts, while the HNX-INDEX increased 1.2% to 435.8pts.

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