20160401_BSC_Vietnam Daily Review_EN_Week ahead-Technical recover could occurred_PMI Update_FPT, HPG Updates

Summary

Market sentiment becomes more stable than yesterday, but it is still negative. The indices fluctuated in the session, closing at the lowest price of the day. VN-Index lost the 560-pts support. Market liquidity declined steadily over 3 floors; Market breadth was also negative. Foreign investors' transactions dropped significantly today, they were net buyers on all three exchanges.

Recommendation

The market is currently in the risky status, so we recommend that investors should continue to observe the market. A technical rebound could take place early next week, adventurous investors can take low position in stocks and quickly take profit. In the case of VN-Index fails to hold 558-560 points, investors should not rush into catching bottom.

Macro updates

Vietnam PMI rose slightly to 50.7 in March from 50.3 in the previous month: Manufacturing sector rose modestly, the number of new orders tend to increase. Meanwhile, the state employment fell slightly in the first time in 4 months, and input costs rose for the first time in 9 months.

Company updates

HPG - Hoa Phat Group JSC (HSX)

FPT - FPT Corporation (HSX)