Vietnam Daily Market Recap May 13, 2022

Market commentary: The VN-INDEX down to the lowest point since July 2021

The VN-INDEX continued suffering a significant drop of 56.1 pts, as 197 stocks were covered in blue hue. Concerns rising as negative information about inflation increased above expectation in the global market, led Dow Jones to fall for 6 consecutive sessions. In Vietnam’s market, the negative sentiment continued to run rampant, dragging VN-INDEX to decrease about 20pts in the morning despite money ran inflow into some large market pillars. However, the sell-off in past few weeks has caused panic in the cash flow, pushing the VN-INDEX decline further in the afternoon session. All sectors lost ground today, Banks were the worst-performing sector as some stocks were present in the top laggard such as VCB (-5.2%), VPB (-6.8%), TCB (-6.9%) and BID (-5.4%). Other top laggards included GAS (-5.3%), HPG (-6.1%), MSN (-6.9%), MWG (–6.9%) and GVR (-7.0%). At the end of the session, the VN-INDEX slumped 4.5% to 1,182.8 pts, and HNX-INDEX also declined 4.2% to 302.4 pts.

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