Vietnam Daily Market Recap Aug 12, 2022 – Economic update

Market commentary: The VN-Index bounced back in the afternoon with decreasing liquidity

Despite selling pressure in the morning session, the VN-INDEX bounced to gain 10.3pts, reaching 1,262.3pts. The U.S. stock markets declined slightly on Thursday after the investors’ excitement cooled down. The U.S. inflation and PPI were lower than expected, implying a better economic outlook. The VN-Index opened with a gap down of 1.4pts and immediately faced strong selling pressure due to the continuous rising of negative sentiment. The index went sideways within a range of 1,253 – 1,249pts before falling to its intraday low of 1,248.9pts. The VN-Index reached just above its reference level of 1,255.6pts before daybreak. In the afternoon session, the market momentum started to speed up as several sectors rose. Basic material and Industrial sector became the market’s backbone, with the contribution of HPG (+2.4%), HSG (+7.0%), BMP (+5.5%), LHG (+7.0%), and SZC (+4.0%). In addition, the Security sector also increased sharply, such as MBS (+7.0%), VCI (+6.2%), and VDS (+2.7%). On the other hand, the market’s liquidity showed a significant decline with a total value of VND14,500bn, lower than the previous 5-session average. Today’s top movers were BID (+2.4%), HPG (+2.4%), GAS (+1.2%), VGC (+7.0%), and VNM (+1.1%). Meanwhile, VHM (-0.3%), VJC (-0.7%), SSB (-0.5%), and HAG (-2.1%) were the top laggards. After the ATC session, the VN-INDEX surged by 0.8% to 1,262.3pts, while the HNX-INDEX stroke by 1.1% to 303.4pts.

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