20160225_BSC_Vietnam Daily Review_EN_Technical correction_VIC Update

Summary

The massive transactions of VNM and the net buying in banking stocks of foreign investors were the highlights of the market in today's session. However, profit taking activities which lead to increase the selling pressure has pushed the indices to their lowest price at the end of the afternoon. Market breadth weakened, losers have prevailed. Foreign investors traded fairly balance today, the value of buying value on HOSE fell but the selling value on HNX retreated to a negligible levels.

Recommendation

Movements could be fairly balanced in the next session. The index could fluctuate with a small amplitude to retest the recent gains. If successful, the VN-Index will continue move towards 580 point. Adventurous investors can buy in technical correction and consider selling when VN-Index approaches resistance at 580 point.

Company updates

VIC - Vingroup JSC (HSX)