20160622_BSC_Vietnam Daily Review_EN_Keep calm and wait_Company Updates PVS and CSM

Highlight

The polls provided by Bloomberg and the Financial Times indicated the odds for and against Brexit were quite equal and since last weekend number of remain supporters has gone up and help lower the risk aversion in the market, supporting the recovery of risky assets over the world. However, in Vietnam, selling, as the market reached 630 point threshold, made most of BCs were corrected or traded around the reference. VN-Index closed slightly lower mainly due to the impact of VIC. In the other hand, HNX was up along with higher liquidity while on Upcom, exciting trades of VLC attracted the most of attention today.

Recommendation

The market experienced a mixed session when the VN-Index dropped slightly, the HNX-Index and UPCoM-Index gained, trading volume is somewhat declined. The technical indicators of the market haven’t yet given a clear signal about the possibility to keep rising and reach the peak of many years. VN-Index continuously weakened whenever it approached 630 in recent times, so BSC continues to maintain a cautious view of the current situation and considerds 630 is the selling point to reduce stock weights, in particular, when the timing of the referendum on the Proposed referendum on United Kingdom membership of the European Union is coming very close. A cautious view was also spread across world markets when overall trading volumes are falling. Investors are recommended to hold the stock weights in portfolio at a safe level. Investors interested in oil price fluctuations can refer to our technical views on WTI oil price on page 2.

Company Updates PVS - PetroVietNam Technical Services Corp. (HNX)

Company Updates CSM - Southern Rubber Industry Jsc. (HOSE)