Vietnam Daily Market Recap Jul 19

Market Commentary: The VN-INDEX lost 4.3% as selling pressure dominated the whole session

The VN-INDEX reacted to the negative news about the Covid-19 by dropping 55.8pts in Monday session. Right after the opening bell, the market faced selling pressure as investors were concerned about the new Covid-19 cases and the implementation of new social distancing measures. VCB was the largest laggard, which declined 5.4% to close at VND97,000 and solely took 5.5pts off the index’s move, followed by smaller Financials stocks such as TCB (-7.0%), BID (-6.7%), VPB (-7.0%), and CTG (-6.9%). Other market pillars also lost ground included VHM (-4.3%), HPG (-5.2%), VIC (-2.7%), and GVR (-6.9%), thus pushing the index down to its intraday low of 1,237.8pts (-4.7%). On the other hand, very few notable stocks managed to overcome the sell-off wave, led by KDH (+1.0%), HDC (+5.5%), GMD (+1.2%), and PTB (+2.4%). At the end of the session, the VN-INDEX closed in the red at 1,243.5pts (-4.3%) and the HNX-INDEX also plunged 5.1% to 292.1pts. 

Read the full daily report: Daily Market Recap Jul 19