6PM Call: Movement Seen in First Week of September Repeats - Update on HPG
Although the VNIndex (815.87, +0.24%) closed higher today, the gain came from only several large caps. The number of losers dominated that of gainers (142 vs. 125) on the HSX. Even among large caps, only few stocks outperformed, as there were 12 gainers vs. 17 losers in the VN30 index.
Looking at the market movement today, we realized that the VNIndex moved in a similar way recalling its movement in the first week of September, when it increased continuously to the 800 level, also mainly driven by a small number of large caps. After that, transactions in the market gradually turned back to normal conditions.
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