Vietnam Daily Market Recap Jan 05

Market Commentary: VN-INDEX lost ground in late trading session

The VN-INDEX lost ground in the afternoon session and edged down 3.1pts to 1,522.5pts, owing to heavy selling pressure in large-cap stocks. Following the strong rise from yesterday’s session, the market continued its positive sentiment and proceeded to open a gaining gap right after the opening bell. Although the market then sometimes stumbled, the broad index still maintained to stay in the green throughout the morning session, boosted by solid performance in the Utilities and Real estate sectors, including GAS (+3.0%), POW (+1.6%), VRE (+6.9%), DIG (+6.9%), GVR (+2.1%), and KDH (+2.4%). After a robust morning surge, the market trend reversed and soon fell to the red territory due to strong selling pressure among various market pillars. MSN (-5.2%) became today’s worst performer by erasing 2.8pts off the market alone. Besides, VHM (-1.2%), VIC (-0.9%), VCB (-1.2%), and VPB (-1.5%) were also the significant factors for the index’s decline. At the end of the session, the VN-INDEX dipped 0.2% to 1,522.5pts, while the HNX gained 1.3% to 480.4pts.

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