Vietnam Daily Market Recap Oct 21 – FCN & TPB

Market Commentary: The VN-INDEX lost 0.7% as market pillars tumbled

The VN-INDEX lost 9.0pts due to strong selling pressure across almost all large caps.  Right after the opening bell, the market quickly moved to the green territory but stayed in this position for a short period of time before pulling back to the red territory. In the afternoon, VN-INDEX continued its downward momentum and suffered a strong drop in the late session, touching its intraday low at the end of the session. Notably, VIC became the biggest loser in today’s session by declining 1.4% and alone erasing 1.3pts from the index. Other large caps also contributed to the index’s loss, including GAS (-2.0%), VHM (-1.1%), VCB (-1.1%), and MSN (-2.0%). Only a minority of large caps supported the late gain, led by HPG (+0.5%), OCB (+2.8%) and MSB (+2.9%). At the end of the session, the VN-INDEX failed to get back to the green territory and stayed in the red and closed at 1384.8pts (-0.75%). Meanwhile, the HNX-INDEX stayed in the green when inched up 0.04% to 388.45pts.

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