Vietnam Daily Market Recap Jan 25 – NT2

Market Commentary: The market increased by 39.9pts to 1,479.6pts, totally neutralizing yesterday’s decline, owing to the support of VN30

The market increased by 39.9pts to 1,479.6pts, totally neutralizing yesterday’s decline, owing to the support of VN30. Following yesterday’s significant decline, the market’s sentiment was negatively impacted, as the market began with an 8.2pts gap down. The market continued to diverge, with Oil & Gas, Securities, and several Real Estate and Construction stocks all contributing to the decline in the VN-INDEX. On the other hand, support came from the banking sector in the form of many positive news (TCB declared a pre-tax profit of US$1bn, VNpost revealed its intention to sell 122m LPB shares with at least 30% higher current market price), ensuring that the market did not fall too far and closed at the threshold of Technical Moving Average 100 (1,430.0pts) as the end of the morning session. Opening the afternoon session with strong consensus from the VN30, the market unexpectedly rose by 50pts. Top leader was VHM (+6.3%) provided 5.5pts to the INDEX on its own, followed by MSN (+6.9%), HPG (+6.3%), VCB (+3.0%), BID (+4.5%), and CTG (+3.8%). Meanwhile, losers had a negligible effect on the market. VNM (-2.2%) was the only red stock in VN30 to lose 1.0pts of VN-INDEX. At the end of the session, the VN-INDEX increased dramatically 2.8% to 1,479.6pts, and the HNX-INDEX increased 2.4% to 410.2pts.

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