Vietnam Daily Market Recap Jun 08, 2022 – POW & ACB

Market commentary: The VN-Index was covered in green hue

VN-Index remained in the green throughout the day, despite the selling pressure at the close of the afternoon session, the market ended higher by 16.6pts to 1,307.9pts. European equities were muted on Wednesday and government bond prices, as investors tried to balance soften prospects of looming Eurozone rate rises with a slowing economy, while, VN-Index opened positively with 6.2pts gaining gap. Following yesterday’s spectacular rebound, the cash flow continued to expand across sectors, included Real Estate, Rubber, Brokerage, etc. The index achieved a high consensus and surpassed the critical resistance mark at 1,300.0pts before advancing consistently to 1,312.0pts as the morning session neared its conclusion. During the afternoon session, the VN-Index continued to rise slightly and approached the critically key resistance level of 1.320.0–1.330.0pts. However, selling pressure increased in a few industries as well as in a number of particular large cap stocks from Oil & Gas and Material, Financial,  which caused the market to correct somewhat before the ATC session began. These were some examples of equities that had a positive correlation with the market: GVR (+6.9%), VPB (+4.4%), BID (+2.1%), MBB (+3.7%), TCB (+2.9%), and MSN (+1.2%). On the other hand, equities such as VCB (-2.2%), GAS (-0.9%), HPG (-0.9%), VHC (-5.3%), FPT (-0.5%), and BVH (-1.2%) were stocks that caused the index to come under pressure. At the end of the session, the VN-INDEX increased considerably by 1.3% to 1,307.9pts, while the HNX-INDEX rose 2.2% to 310.9pts.

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