20160819_BSC_Vietnam Daily Review_EN_Emphasis on MSN

Highlight

VN-Index continued to trade sideways in this session but the oscillations got bigger, closed at 662.2 (+ 1.6%), the HNX-Index closed down slightly at 83.1 (-0.61%). Trading volume fell slightly compared to the previous trading day and remained at an average of 10 sessions. The market gained thanks to a major contribution from the stock MSN, GAS, VCB, MSN, while most industry groups declined. Foreign investors continued to remain net sellers on the HSX with more than 250 billion

Recommendation

The market weakened while most industries are correcting despite that VN-Index still rose thanks to the rise of a number of key stocks. VN-Index could not close above 665 plus strong net sales from foreign investors are also not a positive signal to the market. Downside risk is increased again, therefore, investors are recommended hold portion of the portfolio at a safe level, only increase position in the case that VN-Index exceeds the threshold of 665 in a convincing way.