Vietnam Daily Market Recap Nov 23 – CRE & Automobile sector

Market Commentary: The VN-INDEX recovered after three consecutive decreasing session 

The VN-INDEX regained its recent loss by rising 16.4pts today on the back of positive performance across almost all sectors. Vietnam’s main stock market started today’s session in the red following the pessimistic sentiment from Monday and fluctuated around the reference point during the morning session. Bank stocks were in top laggards today after contributing to the index’s advance yesterday, led by BID (-1.9%), VPB (-1.2%), CTG (-1.2%), TCB (-0.9%), MBB (1.0%), HDB (-1.5%), and SHB (-1.2%). Other large caps also lost ground including GEX (-7.0%), and DIG (-6.3%). However, the index quickly bounced back and managed to stay in the green territory for the rest of the session thanks to investors’ strong demand for Materials large caps, led by GVR (+5.3%), GAS (+%), and HPG(+%). Other market pillars also joined the rally such as MSN (+4.4%), VHM (+1.9%), and NVL (+4.0%), thus pushing the index to close at its intraday high of 1,463.6pts (+1.1%). The HNX-INDEX also surged 0.9% to 448.6pts in Tuesday’s session.  

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