June, 24 2024 : VN-Index plunged (VN-Index  -2.18%)

• VN-Index started with fluctuations around a reference level moderately.
• However, strong selling pressure broke into the market, which made the Index fall. It might stem from BlackRock’s announcement on dissolution of iShares ETF publicized on 7^th June. They have been in the processes of selling to close the fund since then.
• Negative sentiment was dominant in the afternoon. The Index kept on decreasing and finally dropped over 2% at the end of the day.
• All sectors except for Media recorded declines. Chemicals, Oil & Gas were especially negative with more than 4% of decreases.
• Market breadth included 74 increasing, 378 decreasing, and 50 unchanged stocks.
• Liquidity sored by 48.1% to VND 31.7 trillion.

VN-30 experienced huge drop (VN-30 -2.28%)

• The basket recorded 1 gainer, 28 decliners, and 1 stock staying the same.
• POW (+2.04%) was the only stock in the basket which recorded an increase.
• Declined stocks were wide-ranging including SSB(-4.84%), GVR (-4.49%), TPB (-3.87%), and VPB (-3.83%).

Sectors and stocks daily highlights

• MSCI announced results of their annual review for Market Classification. Vietnam is currently working to improve stock markets with a goal of upgrading into Emerging Market in their Classification, however, the country has not been included in Watch List yet.
• VCG (-0.78%) completed to divest all capital from a international port project in Quang Ninh. It is estimated that they contributed more than 198 billion VND.
• Foreign investors net sold VND933.6 billion. While there were no notable movements in net bought stocks, FPT (-2.94%) was heavily net sold 590 billion VND.

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