VCSC Daily - VN-Index ends five-session winning streak despite strong performance from banks

* Banking: Official document amending Circular 03/2021 announced with no major changes compared to draft
* Vietnam Earnings Update: Earnings forecasts lowered on Q3 COVID hit
* Market wrap: VN-Index ends five-session winning streak despite strong performance from banks

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Market wrap: VN-Index ends five-session winning streak despite strong performance from banks

On Tuesday, the VN-Index appeared to be on its way to a sixth straight positive session; however, a sharp plunge in the final hour of trading caused the index to close down by three tenths of a percent as investors took profits following the market’s recent rally.

* VIC (-1.2%) was the top contributor to the day’s loss while its subsidiary VRE (-3.2%) ended an eight-session winning streak. On the other hand, Vingroup’s other listed subsidiary VHM (+1.1%) advanced for its third session in a row.

* GAS (-1.9%) and HPG (-1.0%) retreated following their gains on Monday.

* GVR (-1.1%) and MSN (-1.0%) dropped for their second and third consecutive sessions, respectively.

* Banks were resilient as VPB (+3.9%), CTG (+1.9%), TCB (+1.4%), BID (+1.5%), TPB (+4.6%), EIB (+4.2%), ACB (+1.4%), MBB (+1.1%) and VIB (+2.0%) were all among the day’s top 10 contributing gainers.