VCSC Daily - VN-Index inched down with differentiation

* CII announced preliminary H1 2022 NPAT-MI of around VND700bn (USD30mn) vs only VND32bn (USD1.4mn) in H1 2021
* DPM AGM document update: new proposal regarding input gas transportation tariff recalculation for 2014-2018 - negative
* GAS: High gas prices bolster H1 2022 net profit, despite muted volume
* Market wrap: VN-Index inched down with differentiation

----------------------------------------

Market wrap: VN-Index inched down with differentiation

The VN-Index eased back from an early gain to close 0.27% lower on the day. The market witnessed marked differentiation in performance between sectors due to rotation of short-term money flows from out-performing tickers to laggards.

* Utilities, Fertilizer and Fishery stocks continued to be sold off with some, including GAS, VSH, NT2, DPM, DCM, VHC, closing limit down.

* Large-caps in the Consumer sector showed weakness with declines from MSN (-4.5%), VNM (-4.2%), MWG (-5%) and PNJ (-3.2%).

* In contrast, Financials tickers such as TCB (+5.5%), VPB (+4.4%), MBB (+4.5%) and STB (+6.8%) continued to perform well while midcaps in Real Estate such as VRE (+1.8%), PDR (+2.6%), NLG (+2.4%) and DXG (+2.4%) started to recover.