Vietnam Daily Market Recap Aug 05, 2022 – VPB

Market commentary: Index dropped for the first time after a strong rally in the previous trading session

An excellent advance by the VN-Index ended with a first correction, which varied in a narrow range and clearly distinguished several sectors, with the VN-Index closing down 1.4pts to 1,252.7pts. European stocks fell slightly at the open, with the regional Stoxx 600 down 0.1% after gains for Asian shares, with Hong Kong’s Hang Seng up 0.2% and the VN-Index opened cautiously with a gap of 3.9pts. Second accumulation for the VN-Index following a lengthy and significant gain streak, although there was a split across industrial groupings, forcing the Index to struggle during the whole session. Securities, Energy, Oil & Gas, and Real Estate were the index’s mainstays, while Materials, Consumer, and Information Technology exerted pressure on it. Today’s gains were led by NVL (+3.1%), HVN (+4.1%), BCM (+1.7%), SSI (+5.3%), VND (+3.8%), and GAS (+0.5%), while VHM (-1.9%), MSN (-3.2%), VIC (-1.5%), VCB (-0.6%), HPG (-1.5%), and SAB (-1.3%) fell. Notably, the first corrective session after a significant market rise saw a 10% drop in market liquidity compared to yesterday, indicating that the uptrend is still in place. At the end of the session, the VN-INDEX decreased slightly by 0.1% to 1,252.7pts, while the HNX-INDEX increased by 0.7% to 299.9pts.

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