Vietnam Insight

Vietnam stock market witnessed a roller coaster session on Thursday as the VN Index dropped deeply from the start and recovered strongly above the reference level before running out of energy to close in light red at the end of the session.  Closing the session, VN Index dropped -2.67 points, or -0.18%, to 1,462.35. Liquidity exploded again with a trading value of VND 38,134 bn or 1,265mn shares traded. Foreign investors increased their net selling scale to VND 1,210 bn.  The steel giant, HPG (-2.35%) still corrected and was the stock holding the VN Index the most, followed by VHM (-1.33%), GAS (- 1.16%). On the contrary, GVR (+1.95%), VCB (+0.72%) and MWG (+2.06%) were creating counterbalances supporting the index.  Among sectors, only construction real estate stocks were the most positive and had great impact on market. Some notable stocks include DIG (+6.94%), NLG (+6.86%), KDH (+3.11%).  Technically, VN-Index closed the session a long shadow candle, showing that there was a strong demand to catch the bottom at low prices range. In general, VN Index seems to continue to accumulate at this price range before continuing the uptrend. What will be supported by fiscal and monetary polies, which are being discussed in Congress. Recently, the Ministry of Finance is advising on a stimulus package to mobilize 1mn billion VND into the economy.