Vietnam Daily Market Recap Oct 25 – PHR

Market Commentary: The VN-INDEX fell 0.3% as profit taking dominated late trading 

The VN-INDEX closed 3.8pts down in Monday’s session as selling pressure against Financials large caps. After the opening bell, the VN-INDEX started in positive sentiment and gradually rose to its intraday high of 1395.7pts (+0.5%) with the largest support from GVR. The stock rose 2.6% to VND39,300 and contributed 1.1pts to the index’s gain. Other large caps catching up with the advance included BVH (+7.0%), VHM (+0.6%), BCM (+3.4%), and PLX (+2.3%). However, profit taking activities emerged in late trading and pushed the index down to the red territory with Financials’ stocks falling namely TCB (-2.7%), TPB (-2.8%), SHB (-2.4%), VIB (-2.0%), MBB (-1.1%), STB (-2.3%), and ACB (-1.1%), thus taking away a combined of 3.2pts from the index. Other laggards included HPG (-2.8%), FPT (-1.4%), and HSG (-4.1%). Foreign investors continued to net sell for the 6th consecutive session with a total value of VND1,233.8pts and mainly focused on VJC, HPG, and NLG. At the end of the session, the VN-INDEX edged down 0.3% to close at its Intraday low of 1,385.4pts, while the HNX-INDEX jumped 1.2% to 395.9pts. 

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