Daily Review

20160524_BSC_Vietnam Daily Review_EN_Questionable rebound

  • Date

    24/05/2016

  • Language

    Tiếng Việt

  • Number of Downloads

    6

Detailed report

Summary
VN-Index (+ 0.1%) gained slightly, avoiding the first fifth-consecutive declines in recent 6 months. Demand on blue-chips (MSN, CTG, BVH, MBB) and oil group (PVD, PVT, GAS) at session close helped the VN-Index closed up at 611 points after testing the supportive level 608 pts., liquidity improved in the afternoon session. HHS continued to have the large put-through transaction of 7.3 million shares.
Some notable economic news of the day is CPI of Vietnam on the rise (+2.28), the US dollar stays strongest for two months amid higher probability of Fed interest rate raise in June.
In contrast, HNX-Index and its liquidity ended slightly down.

Recommendation

While the VN Index has been moving in the safe area, investors should pay attention to the supportive level at 608 pts. and resistant level at 615 pts. In context of local information scarce, investors may pay attention to macro information related to the US economy this week which will help shape the possibility to raise interest rates of the Fed such as: the US oil in storage (Wednesday), Jobless claims (Thursday), CPI and GDP estimates (Friday).

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