Vietnam Daily Market Recap May 04 – GAS

The VN-INDEX stayed in the red territory for the whole trading session with low liquidity and ended the day down 18.1pts to 1,348.7pts. VN-INDEX opened cautiously with a gap down of 0.7pts. After that, the pessimistic sentiment continued to spread when the investors hesitated to enter the market, making the index stay in the red territory for the whole trading session. Most sectors suffered from the sellling pressure except for the Oil&Gas and Fishery sector thanks to the impressive business performance of many companies in these sectors. In the afternoon session, taking profits pressure once again emerged on almost all of the sectors, causing the market to tremor somewhat before the ATC session began. Large caps from the VN30 basket and Financial sector fueled the index’s drop, pushing VN-INDEX to its intraday low of 1348.7pts. Notably, TCB (-4.5%) became today’s largest laggard to close at VND42,000, alone wiping 1.8pts off the index’s. Market pillars from Financials and other sectors also lost ground, including HPG (-3.0%), VCB (-1.2%), VPB (-2.5%), VIB (-6.0%), CTG (-2.7%), and VNM (-2.3%). On the other hand, few notable stocks managed to overcome the sell-off wave, including GAS (+4.0%), POW (+1.7%), HVN (+6.9%), SHB (+1.6%), and VCG (+4.2%). At the end of the session, the VN-INDEX lost 1.3% to end at 1,348.7pts, and the HNX-INDEX also dropped 1.3% to close at 361.0pts.

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