Vietnam Daily Market Recap Jul 23 – SCS, MBB & VHC

Market Commentary: Red color covered  the whole stock market

The VN-INDEX lost 24.8pts today after recovering in the previous session as Financials and Real Estate large caps fell under strong selling. After the opening bell, the VN-INDEX immediately fell to the red territory as strong selling pushed down many large caps. Real Estate stocks had a disappointing day, with VIC and VHM declining 2.1% and 3.1%, respectively. The two eroded a combined 3.6pts of the index’s move. Large caps from the Financials sector, including VCB (-3.3%), TCB (-3.1%), CTG (-3.0%), and VPB (-3.8%) also lost ground, taking another 5.2pts from the index. On the other hand, very few notable stocks managed to overcome the sell-off wave, led by VNM (+0.9%), STB (+2.5%), FPT (+1.2%), DGC (+6.9%), and POW (+1.4%). However, due to strong selling pressure, both the VN-INDEX and the HNX-INDEX ended in the red. At the end of the session, the VN-INDEX closed at its intraday low of 1,268.8pts (-1.9%) and the HNX-INDEX also plunged 1.4% to 301.8pts.

Read the full daily report: Daily Market Recap Jul 23 – SCS, MBB & VHC