Vietnam Daily Market Recap Feb 23 – VHC

Market Commentary: The VN-INDEX was overwhelmingly in the green

Thanks to the support from the most sectors, the green hue spread across the market, resulting in the VN-INDEX ending the day up 0.6% at 1,512.3pts. After successfully testing the Technical Moving Average 20 critical support level (1,485.0pts) with increased liquidity yesterday, the market began on a positive sentiment, with a 6.1pts gap up. Oil & Gas stocks maintained their robust gains from the start of the day, as political concerns in Ukraine continued to strengthen the sector. Other sectors, including Financial, Aviation, and Real Estate, witnessed advances at the same time, enabling the market to achieve a high degree of consistency and surpassing the 1,518.0pts benchmark before the morning session ended. Having gained ground throughout the morning session, the market continued to rise in the afternoon before reaching the resistance level of 1,520.0-1,535.0pts in the afternoon. Here, the selling pressure started to pick up speed, with particular emphasis on Oil & Gas, as well as Banking, which was the major gainer on the VN-INDEX in the morning. In the category of Materials and Fertilizers, the market’s support materialized, only slowing the slide of the VN-INDEX. Afterwards, the Index dropped to the 1.512.0pts support area before commencing the ATC session. The leading stocks in today’s session spread across different industries/sectors, reflecting the positive breadth of the market, with VJC (+3.8%), DIG (+5.2%), VIC (+0.6%), TPB (+2.6%), BCM (+1.8%), HPG (+0.6%) and DPM (+6.9%) among the most notable names in the market. The EIB (-5.7%), BID (-0.9%), NVL (-0.9%), MSN (-0.2%), and ACB (-0.3%), on the other hand, had a negative influence on the Index’s performance. At the end of the session, the VN-INDEX surged 0.6% to 1,512.3pts, while the HNX-INDEX increased strongly 1.9% to 442.5pts.

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