20160527_BSC_Vietnam Daily Review_EN_Weak sign of rebound

Summary

VN-Index gained by support from macro news. Bank stocks and VNM and VIC pulled market up while oil and gas stocks fell as the oil price dropped. Securities, steel and real estate stocks and catfish stocks climbed significantly today. Besides, capital found attention on small - cap and penny stocks.

Recommendation

The market found a recovery while the liquidity remains low, which cannot confirm the short-term reverse. Investors should stay observing when VN-Index tests the resistance at 611 points. We still hold the view that VN-Index has fallen into short-run downtrend with supportive level at 598 and 590 points. Investors should remain low portion of portfolio.