Vietnam Daily Market Recap Jun 23, 2022

Market Commentary: Green color returned to the VNINDEX

The VN-INDEX closed in the green, increasing 19.6pts with 318 gainers. Today Vietnam’s main stock index began the trading session with 7pts decrease right after the opening bell. Selling pressure mainly came from Real Estate stocks, including VMH, VIC, NVL, and BCM. At 10am, a number of large caps increased strongly and helped VN-INDEX surpass the reference level. GAS, DGC, MWG, VIB, and VNM were the stocks supproting the VN-INDEX the most, in which DCG hit the ceiling price of VND119,800. The VN-INDEX kept fluctuating and ended the morning session in the green with 0.6pts rise. In the afternoon session, the market showed positive signals. Green was overwhelming in many sectors, especially Banking with CTG (+7.0%), TCB (+3.3%), BID (+1.6%), and MBB (+2.6%). These stocks together contributed 4.2pts to the index. The biggest supporter today was GAS, increasing 5.0% and alone contributed 2.8pts to the market. The stock was following by MSN (+3.8%), GVR (+4.1%), and POW (+6.9%). On the other hand, top laggards today belonged to Real Estate sector with VHM (-2.5%), VIC (-1.1%), NVL (- 0.8%), and KDH (-1.0%). At the end of the session, the VN-INDEX rose 1.7% to 1,188.9pts and the HNX-INDEX also surged 2.9% to 277.2pts. Although the index increased positively, the liquidity on the VN-INDEX only reached VND10,159bn – the lowest level since early Dec 2020. This showed that the cash flow has not really returned to the market. While domestic investors are still cautious, foreign investors are actively buying for the third consecutive session on HOSE with a net buying value of VND353.7bn.

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