Vietnam Daily Market Recap Jul 27, 2022 – VCB

Market commentary: VN-INDEX sprang back in the afternoon, closed at 1191.0pts

After facing strong sell pressure in the morning, the VN-INDEX bounced back to close at 1191.0pts, up by 5.9pts. In the latest trading session, three major U.S. stock markets declined due to disappointed business results from the Retail enterprises. The VN-INDEX opened in red amid the concern of a recession in the U.S’s economy. Hence, It fell quickly to its intraday low of 1,178.6pts right after the opening bell, then fluctuating tightly around the MA 20 at 1,181pts. After that, the market momentum got better and started pulling the stocks up to near its reference level right before the noon break. In the afternoon session, the VN-INDEX rose gradually, thanks to Construction and Insurance sector. CTD (+4.6%) and VCG (+4.2%) attracted the money flow, while BVH (+5.2%), MIG (+5.3%) and PVI (+8.1%) increased sharply. The market liquidity improved slightly compared to yesterday with the value of VND10,023bn. Foreigner net buy was VND623.3bn, surged drastically when they focus on selling HPG and buying KDC. Notably, today’s market movers were VCB (+1.5%), CTG (+1.7%), BVH (+5.1%), VGC (+6.9%), and VIC(+0.6%). On the other hand, HPG (-1.8%), MWG (-1.4%), MBB (-1.0%), HVN (-1.5%) and VHM (-0.2%) were the laggards. At the end of the session, the VN-INDEX gained 0.5% to 1,191.0pts, when HNX aslo grew by 0.6% to 284.5pts.

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