20160531_BSC_Vietnam Daily Review_EN_Further market excitement

Summary

With demand from foreign investors, GAS lifted VN-Index breaking through the resistance level of 615 points while PVS helped HNX-Index closing in green. Energy, oil and rubber stocks showed a significant gain. Besides, HSG received bid-orders at ceiling price from morning session. Liquidity improved on both HOSE and HASTC. Foreign investors kept net buying the eighth sessions in a row on 2 exchanges.

Recommendation

After moving around 615 pts in the morning session, VN-Index climbed up with volume also improved. However, cash flow seems to decelerate at the end of trading session, slowing the advancing pace of VN-Index. Investors should pay attention to short-term resistance and support at 628 and 603 respectively and banking stocks in short term. In case that VN-Index continues moving upwards with support from BCs, Investors should be caustious when VN-Index is close to the strong resistance at 641 pts, should not buy high.