20160812_BSC_Vietnam Daily Review_EN_Weekend correction_Company Updates - VEAM

Highlight

Markets continued rally scenario at the beginning of the trading session. VNM, GAS surged, lifting VN-Index up nearly 7 points. However, at 9h50, from an increase of nearly 7 points, VN-Index was trading around reference point as VNM and VCB started to decrease during the session. Closing session, VN-Index lost 4.53 points to close at 655.71 points. HNX-Index also fell 0.12 points to 83.13 points. Market breadth worsened with losers overwhelming gainers, with 267 decliners / 161 advancers. Foreign investors turned net sellers on the HSX with 70 billion net and net buyers on the HNX.

Recommendation

The excitement of market existed only in 15 minutes after the ATO, bringing market closely approached resistance area 670, short term profit taking weakened quickly and deeply the market , key stocks such as VNM, VCB and some major stocks corrected and suffered increase in the supply by the end of the session, however, Oil and gas stocks still moved well today. The necessary correction in this session may provide an opportunity for investors to participate in the market when it is back to safe movement. A correction to the support level of 650 points can occur in the next session, the shares of construction, infrastructure, construction materials maintained good liquidity and still retained cash flow in the market for longer.

Company Updates - VEAM - The Vietnam Engine & Agricultural Machinery

Weekend story - Man and his dog