Vietnam Daily Market Recap Jul 09

Market Commentary: The VN-INDEX had a roller-coaster week and ended with a 27.5pts loss 

The VN-INDEX declined 2.0% to 1,347.1pts as strong selling pressure targeted Real Estate and Materials large caps and dominated the trading session. The VN-INDEX maintained yesterday’s bearish sentiment to stay in the red throughout the day, reaching its intraday low of 1,335.9pts (-2.9%) in the afternoon session. Notably, GVR reached its floor price of VND31,600, alone taking 2.6pts off the index’s move. Other Real Estate and Materials market pillars also suffered losses, including VHM (-2.2%), VIC (-2.2%), NVL (-6.6%) and HPG (-3.5%). These large caps had contributed to today’s bearish sentiment. On the other hand, few large caps rallied, led by MWG (+2.3%), VIB (+2.0%), and DGC (+5.3%). At the end of the session, Vietnam’s main index edged down 2.0% to 1,347.1pts in the red territory with 77 gainers and 306 losers. The HNX-INDEX also plunged 2.9% to 306.7pts. Foreign investors’ activities resulted in a net inflow of VND792.4bn. 

Read the full daily report: Daily Market Recap Jul 09