Vietnam Daily Market Recap Oct 28 – KDC

Market Commentary: VN-INDEX surged 1.1% and continued to break all-time high

The VN-INDEX rose 15.0pts to its historic peak of 1,438.0pts in today’s session with strong support from Real-estate (+1.0%), Utilities (+2.5%), Financials (+1.05). After the opening bell, the VN-INDEX followed the optimistic sentiment from the previous day and started in the green and stayed in this territory for most of the morning session. The positive sentiment continued to dominate the market and all the sectors had an impressive performance today. As the afternoon session was nearing its end, buying demand emerged and overwhelmed all the market, pushing the VN-INDEX up to its historic high of 1,438.0pts. Notably, VCB was the biggest supporter, and its gains of 1.9% to VND97,900, alone add 1.8pts to the index gain. Other large caps catching up with the advance included GAS (+2.7%), MSN (+3.3%), NVL (+3.8%), and BCM (+6.6%). On the downside, some of the stocks still suffered from profit-taking in late trading, including HVN (-2.5%), PDR (-1.9%), PLX (-0.9%), VRE (-0.6%), and HPX (-4.3%). However, their impact was minimal compared to the overall gain. At the end of the session, the VN-INDEX inched up 1.1% to close at 1,438.0pts, and the HNX-INDEX also increased 1.7% to 411.1pts. 

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