Vietnam Daily Market Recap Oct 04, 2022 – Market Strategy

Market commentary: VN-Index slumped further

VN-Index continued to fall despite the return of market pillar stocks. Following the deep slump of yesterday, the bottom fishing cash flow took part in an early morning session, helping Vn-index create a gap of 14pts to reach 1,100pts. However, the negative sentiment still existed, pushing down the Vn-Index into the red territory. The index fluctuated around the reference level thanks to buying demand focused on some large market pillar stocks, such as VIC (+2.7%), VCB (+1.0%), VHM (+0.4%). Nevertheless, the strong buying demand in the late morning and the early afternoon session was defeated by bear side, dragging the index back and close in the zed zone. The most hit sector was Construction material (-4.1%), driven by HPG (-4.6%). HPG was also the top laggard of today, alone taking away 1.3pts from the market. Other tops laggard included MSN (-3.7%), GVR (-6.2%), CTG (-3.9%) and BID (-1.7%). On the positive side, VIC (+2.7%) became the top leader of today, contributing 1.5pts to the market’s gain. Other tops leader included some large corporates, such as SAB (+3.2%), VCB (+1.0%), MWG (+2.4%) and VJC (+2.6%). At the end of the session, the VN-Index plunged 0.8% to 1.078pts. Corresponding, HNX-Index and UPCOM-Index also decreased 1.1%/0.5% to 235.6/82.4pts.

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