20160512_BSC_Vietnam Daily Review_EN_VN-Index may rise further

Summary

VN-Index maintained the green color in the morning session due to the gains from oil and gas stocks, GAS (+ 1%), PVD (+ 3.3%), and VIC (+ 0%). However, VN-Index was falling gradually in the afternoon session and closed at its lowest level (-0.32%), trading volume (-18%) and value (-18%) ended lower than yesterday. After rising slightly yesterday, steel producer stocks corrected today. TSC continued to close at ceiling price with the highest trading volume on the floor, 7.4 Mil. share traded. In contrast, HNX-Index closed green (+ 0.73%) with trading volume improved (+9%). After information about the possible open of margin trading on UPCOM released, UPCOM-Index closed up with transaction volume increased significantly compared to yesterday. Foreign investors kept net-selling position on HOSE while net-buying on HNX and UPCOM.

Recommendation

Investors can continue to hold current portfolio and take profits gradually in the upcoming rallies