Vietnam Daily Market Recap Jul 14

Market Commentary: The VN-INDEX came back to the red with 1.4% decrease

The VN-INDEX dropped 17.6pts due to selling pressure from many market pillars, despite the early trading rise. Following the upward momentum in the previous session, the VN-INDEX fluctuated around the reference point and quickly rose to its intraday high of 1,304.6pts (+0.5%) thanks to the Consumer Staples sector including SAB (+1.9%), VNM (+0.8%), and MSN (+1.0%). However, the selling pressure continued to emerge and press the index into the red territory to lose 1.0% before the daybreak. The sell-off became stronger in the afternoon, pushing the index into its intraday low of 1,265.5pts (-2.4%). All market pillars made steep falls, especially large caps from the Financials sector, led by TCB (-5.4%), VPB (-3.9%), VCB (-1.6%), VIB (-6.9%), CTG (-2.6%), ACB (-3.5%), and MBB (-3.2%). These stocks eroded 9.5pts of the index’s move. At the end of the session, as almost all large caps lost ground, the VN-INDEX plunged 1.4% to 1,279.9pts while the HNX-INDEX rose 0.1% to 296.8pts. 

Read the full daily report: Daily Market Recap Jul 14