6PM Call: A Widespread Decrease - Macro Update
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The market started the week off on the wrong foot: On both exchanges, decliners overwhelmed gainers by 3 to 1. The VN-Index (659.7 pts) only declined by 0.51% due to the support of SAB, while the HNX (78.79 pts) did not have this support and hence lost over 1%. As the market performed poorly, domestic and foreign investors both withdrew from speculative stocks (FLC, KBC, FIT, ITA, and HHS). On the other hand, foreigners saw today’s decline as an opportunity to take positions in stocks with strong fundamentals such as PC1, CTD, CII, HBC, PAC, and GIL. Their net purchase on the two exchanges was VND133 billion.
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