Vietnam Daily Market Recap Jul 18, 2022

Market commentary: The VN-Index remained indecisive at its Technical Moving Average 20 (1,182.9pts)

In spite of being in the green for most of the trading day, the market saw some corrective pressure in the afternoon that led to a 2.8pts drop, closing at 1,1176.5pts. US stocks rose on Friday, bringing an upbeat end to a disappointing week, as strong retail sales data and a survey hinting at easing inflation expectations tempered concerns over the economic outlook, and the VN-Index had a strong start to the week, opening with a gap of 5.5pts. At the start of the session, the VN-Index diverged substantially as Cattle, Public Investment, and Aquaculture garnered capital inflows. However, equities that had seen significant increases during the previous week, such as Real Estate, Securities, and Material, were subject to corrections and profit-taking activities. The market struggled and fluctuated around MA20 (1,182.9pts) for the remainder of the morning session after a divergence was also seen in the VN30 bucket. Market sentiment weakened in the afternoon after seeing wild swings during the morning. Sectors that lost steam in the morning saw more selling pressure, particularly Banking and Vingroup related stocks. Inducing a dive into bearish territory for the Index just before the beginning of the ATC session. Indices were weighed down by equities such as VIC (-2.3%), VHM (-1.7%), HPG (-2.6%), BID (-0.8%), VCB (-0.4%), and DIG (-5.5%). However, today’s market was supported by MSN (+1.4%), FPT (+1.0%), VIB (+1.4%), TCB (+0.6%), VHC (+4.2%), and HAG (+5.9%). At the end of the session, the VN-INDEX decreased slightly by 0.2% to 1,176.5pts, while the HNX-INDEX inched up 0.1% to 284.6pts.

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