Vietnam Daily Market Recap Jul 08

Market Commentary: The VN-INDEX lost 13.9pts today due to selling pressure from Real Estate stock 

The VN-INDEX lost 1.0% in Thursday’s session as several large caps lost ground. The VN-INDEX opened in a pessimistic manner and stayed in the red territory for the whole session due to strong selling pressure from Real Estate large caps. Notably, VIC became today’s top laggard, falling 2.6% to land at VND111,000 and alone taking 2.8pts off the index’s move. The stock was followed by other Real Estate large caps such as NVL (-6.1%), VHM (-1.7%), and VRE (-3.2%). Financials stocks also fell under strong selling pressure, led by VCB (-2.1%), VPB (-2.0%), and CTG (-1.2%), along with other large caps including HPG (-1.8%), VNM (-1.6%), and GVR (-2.0%). Thus, the VN-INDEX gradually fell to its intraday low of 1,365.4pts (-1.6%). On the other hand, MSN (+3.3%) became today’s largest supporter, followed by MWG (+4.0%), GAS (+1.6%), VIB (+3.2%), and BID (+0.7%). At the end of the session, the index closed in the red at 1,374.7pts (-1.0%) and the HNX-INDEX also plunged 1.2% to 316.0pts. 

Read the full daily report: Daily Market Recap Jul 08