VCSC Daily - Stocks retreat following new COVID-19 cases - FRT, GVR, KDH, MBB, QNS

Market Commentary

29 Jul 2020

The VN-Index dropped 2.8% on Wednesday after several COVID-19 cases were confirmed in Vietnam, prompting concerns of a reintroduction of social distancing measures throughout the country. GAS (-6.3%) was the leading contributor to the day’s decline as it plunged to a three-month low. In addition, petroleum distributor PLX (-4.7%) fell to a 12-week low. The Vingroup family of stocks weighed heavily on the index as VHM (-2.4%), VIC (-2.0%) and VRE (-6.1%) all declined.

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