20160830_BSC_Vietnam Daily Review_EN_Increased slightly

Highlight
In the afternoon session, the indices were higher than the morning session. Closing session on 8/30, the VN-Index rose by 3.23 points to 672.67 (+ 0.48%) while the HNX Index gained 0.47 points to 83.68 (+ 0.57%). Liquidity on both floors were down slightly from the previous session, with nearly 140 million shares changing hands. The key stocks mixed today, GAS, BVH, VNM, MSN gained while VCB corrected.
Market breadth was back to positive with 236 advancers and 199 decliners.
Foreign investors were net sellers on the HSX with about VND 117 billion, focused primarily on VNM, VCB.

Recommendation
The market remained higher today on the threshold 670 thanks to some key stocks in the session such as GAS, MSN, VNM, MWG, BVH and the rebound of the steel industry group. Contrary to general movements, VCB deep correction today contributed to points dropped of the general market index. In general, Largecap stocks corrected in the session, the money flew in the Midcap stocks and Smallcap stocks. The correction of VCB led to general decline of banking group, while the sectors of Construction, Building Materials, Steel, Energy rebounded today.

Despite the positive changes from the technical indicators in the last session, bringing the index remained above 670 zone, however, there are no new signals about the foreign capital flow trend and market liquidity has not improved. Market breadth improved, liquidity tends to decline. The rebound is still an opportunities for investors to reduce proportion of the equity in portfolio as our comments in the previous session. Investors should maintain a cash position to be able to increase the proportion of shares available in the portfolio when markets return to the lower price. Investors are recommended to not implement a new position when market tends to approach new resistance without the consensus of the market volume.