Vietnam Daily Market Recap Jan 10, 2023

Market commentary: The balance emerged

The VN-INDEX continued to go sideways thanks to strong buying demand in the afternoon session. The market opened with pressure in favor of the buyers when the market was in the green zone. However, selling pressure from sellers soon appeared with strong selling force. This caused the VN-INDEX to be pushed deep into the red zone and hit the lowest level of the day at 1,045.7pts. Fortunately, in the afternoon session, the positive news related to public investment projects helped most stocks of this group increase strongly, including VCG (+6.9%), FCN (+6.9%), and HHV (+6.9%). The positive sentiment spread from this industry group helped the VN-INDEX recover to balance. However, due to the strong selling force, the VN-INDEX fluctuated up and down around the reference level at the end of the session. VCB (+0.5%) became the top movers, alone contributing 0.5pts to the market gain. Other top movers included PLX (+3.8%), BID (+0.7%), ACB (+1.5%) and HPG (+1.0%). On the contrary, CTG (-1.9%) was the top laggard of today, taking 0.7pts away from the market. Other top laggards included SAB (-1.9%), VHM (-0.9%), VIC (-0.9%) and MSN (-1.1%). The balance between buyers and sellers made VN-INDEX go sideways, and closed at 1,053.4pts (-0.1%). Meanwhile, HNX-INDEX increased by 0.5% to 210.6pts and UPCOM-INDEX decreased by 0.3% to 72.5pts.

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