20160525_BSC_Vietnam Daily Review_EN_Unconfirmed trend

Summary
The climb of GAS (+1.8%) with the support from bank stocks has boosted VN-Index closed to the resistance level at 615 points in trading session. However, after session closing, VNM (-0.7%) and MSN (-1.4%) declines and pulled the market to 611.89 point. Overall, market rose slightly today with majority of advancers.  Market liquidity remained stable despite of the decline of foreigners' activities. Significant orders were witnessed in from HNG put-through transaction.
HNX–Index (+0.01%) and Upcom–Index (+0.39%) were also up slightly with noticeable increase in trading volume and value.
Crude oil has climb to near 50$ as a decrease in data on US stockpiles. Oil price hike put pressure on Vietnam CPI as May had highest CPI increase at 0.54% MoM and 2.28% YoY. CPI has risen 1.88% YTD. The release of US strong economic data received positive response from Asian stocks. In China, PBoC weakened Yuan fixing rate to dollar to lowest level since 2011 as the dollar kept strengthening.
Foreigners were net buyers on the HOSE and HNX today.

Recommendation
VN Index has been in a correction after a long bullish period, index has been moving in the narrow cumulative area from 608 - 615 points. Market liquidity reamained low with slow and unclear sectors' momentum. Investors should take advantage of short term recovery at 615 - 620 points or below 608 points to continue  reducing the portion of the porfolio.