Vietnam Daily Market Recap Mar 10,2023 – AST

Market commentary: The gaining streak broke, VN-Index retreated to red hue in the last weekday session

The profit-taking cash flow emerged, VN-Index inched down 2.9pts to 1,053.0pts in the last weekday session, supported by late effort from foreign investors. In contrast with positive sentiment in the previous session, VN-Index sinked into the red territory with selling pressure quickly dominating the market right after the opening bell. Short-term profit-taking cash flow was the primary factor causing a gap down after the recent gaining streak, targeting the VN-30 stock basket. Several Financial large caps, thus, suffered from strong selling behavior. However, the VN-Index suddenly turned up in the afternoon thanks to strong emergence from foreign cash flow. The solid effort, hence narrowed the gap down, helping several stocks to retreat back into reference level toward the end of the session. Notably, MSN recorded a strong gain in today’s session, reflecting the company’s new syndicated loan of total US$650bn, somewhat alleviating concerns about debt payment ability of this company. Vingroup’s related stock also performed positively, including VRE (+3.7%), VHM (+1.1%) and VIC (+0.2%). On the other hand, VCB (-1.0%), BID (-1.0%), TCB (-2.3%), ACB (-1.8%) and FPT (-1.4%) became the major causes for the index’s loss. At the end of the session, the VN-Index dropped 0.3% to 1,053.0pts and the HNX-Index also decreased 0.6% to 207.9pts. 

Read the full report: HERE