20160517_BSC_Vietnam Daily Review_EN_VN-Index to rally further

Summary
VN-Index (+1.46%) experienced a strong advance thanks to oil and gas stocks (GAS +6.3%, PVD +6.7%) and banking stocks (CTG +2.9%, BID +2.2%, STB +5.0%). VN-Index rose strongly along with trading volume (+28%) and value (+32%), climbed convincingly over resistance level at 620 pts and closed at 624.75 pts. HAG and HNG enjoyed reaching ceiling price after a news that central bank may consider restructuring Hoang Anh Gia Lai’s debt was released.

HNX (+0.57%) and Upcom (+0.4%) also rose with trading volume and value stayed at a good level.

Foreign Investors went long strongly on HOSE and HNX, stayed put on Upcom.
 
Recommendation
VN-Index has an impression rally thanks to the contribution from blue-chips and closed above the upper boundary of the rising channel. VN-Index may have one slight correction before the next rally to approach resistance area at 638-640.

Investors consider increasing the proportion of shares in case of market correction.

Company Updates
VNM - Vietnam Dairy Products Jsc. (HOSE)