Vietnam Daily Market Recap Jun 20, 2022

Market commentary: The VN-INDEX closed under 1,200 level

The VN-INDEX lost 36.9pts today as selling pressure against almost all large caps. Following the US stock market sell-off with the Dow Jones Industrial Average fell 0.13% on Friday last week, the VN-INDEX opened in a pessimistic manner. At the beginning of the session, selling pressure came from Oil & gas stocks with PVD (-5.5%), PVS (-5.6%), GAS (-3.4%), and PLX (-2.4%). Besides, Steel stocks was also negative with HPG (-5.2%), HSG (-5.0%), and NKG (-6.9%). Ending the morning session, the VN-INDEX dropped 21.7pts with 95 gainers and 359 losers. Selling pressure lasted to the afternoon session and dominated until the end of the session. GAS was the biggest laggard today, which plunged 6.9% to take 4.7pts from the index. The stock was followed by Bank stocks and Vingroup stocks including BID (-6.6%), TCB (-4.3%), CTG (-4.0%), and GVR (-4.0%). On the other hand, VNM and VJC were the only two stocks in VN30 that supported the market. These stocks increased 3.4% and 1.7%, respectively, to contribute 1.6pts to the index’s move. At the end of the session, the VN-INDEX declined 3.0% to 1,180.4pts and the HNX-INDEX also fell 4.3% to 267.9pts.

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