Further market correction_BSC Daily Review_20160519_EN

Summary

 VN-Index (-0.37%) corrected with trading volume (-0.1%) and value (-12%) decreased slightly. Oil and gas stocks also corrected, HAG and HNG couldn’t not reach ceiling price for the third day in a row and their trading volume increased significantly. Many large stocks today also declined, such as VCB, BID, MSN, GAS, CTG, pulling VN-Index down.

HNX-Index (-0.47%) also fell with trading volume (-18%) and the value (-17%) stumbles. In contrast, Upcom (+ 0.87%) closed up but trading value stayted at a low level.

Foreign investors were net sellers on HOSE and HNX.

Recommendation

VN-Index closed around supportive level 619 pts. with trading volume and value remained low. VN-Index is still moving in safe area but near the strong resistance area at 640 and there is possibility for rising again in coming sessions.

Investors should consider increasing share proportion if market corrected, avoid buying high.