Vietnam Daily Market Recap Sep 20 – ETF Monitor

Market Commentary: The VN-INDEX fell 0.2% as selling pressure emerged in late trading.

The VN-INDEX closed 2.2pts down in Monday’s session as many market pillars lost ground in late trading. Following a positive sentiment from last week with a 0.5% rise, the VN-INDEX started trading in the green and surpassed the 1,360pts during the morning session. The advance was mainly fueled by the Financials sector with VCB (+2.5%), VIB (+6.9%), TCB (+1.9%), MBB (+1.4%), ACB (+1.6%), LPB (+4.7%), and VPB (+0.7%). These stocks added a combined of 2.3pts to the index’s move. Other large caps also joined the rally, including VNM (+2.5%) and PDR (+3.6%), thus pushing the index up to its intraday high of 1,365.9pts (+1.0%). However, as the afternoon session was nearing its end, profit-taking activities emerged and overwhelmed other large caps, pushing the VN-INDEX down to the red territory. Notably, GAS became the largest laggard after dropping 3.4% to VND88,800, alone wiping 1.6pts off the index. Some market pillars also lost ground, led by GVR (-3.0%), VHM (-1.6%), MSN (-2.1%), and HPG (-1.0%). At the end of the session, VN-INDEX ended in the red at 1,350.5pts (-0.2%), while the HNX-INDEX rose 0.3% to 358.9pts. 

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