20160629_BSC_Vietnam Daily Review_EN_Resurrection_Company Updates BTP

Highlight

Foreigners were sellers on the HOSE and on the HNX today. The market rebounded strongly in terms of price and liquidity, with 331 advancers /117 decliners on both exchanges. Impressive was the effort of price increase of almost all the industries to support the market during the morning session and the increasing momentum was maintained until the end of the afternoon. Most of the sectors have rebounded, in addition to the contribution of the Insurance, Bank, Oil and gas, Steel industries, and shares of FPT also rallied with the help of rising volume. BTP, which we recommended to use as a hedging tool against Brexit, soared today as it is expected to record a benefit from KRW decline.

Recommendation

Market index surged 7.92 points, surpassing the resistance level 630 to close near 630.12 points at the end of the session. Market demand improved significantly, however, VN-Index has not really moved into safer areas. Cash flow though moving in an unusual pattern increased, improved demand and supported the market to return to the region before the event Brexit. The VN-Index is likely to test the support level of 630 in the coming sessions, investors are recommended to not buy high and be cautious before the market identifies a clearer trend.

Company Updates - BTP - Ba Ria Thermal Power Jsc (HOSE)