20160906_BSC_Vietnam Daily Review_EN_Foreign investors haven't stopped net selling

Highlight
End of the session, two floors closed mixed when the VN Index dropped 0.65 points down to 663.9 (-0.1%), the HNX-Index slightly increased 0.19 to 84.35 (+ 0:22%). Liquidity stayed stable with about 156 million shares changed hands on the 2 floor, equivalent to about 3400 billion respectively. Remarkable put-through belongs to FPT with 9.66 million shares traded at the ceiling price. Steel stocks started showing signs of correction including HSG, VGS, VIS, NKG while HPG maintained the green. On the other hand, the shares of the real estate and construction remained positive including CTD, HBC, FCN, KBC. The oil and gas stocks such as PVS, PVD, GAS has a positive session.
Market breadth was positive with 242 advancers and 215 decliners
Foreign investors remained net sellers on the HSX with the net value of about 144 billion, focused primarily on the VCB, VNM

Recommendation
Market liquidity remained stable today, most industries have recovered, the decline occurred in the Steel, Fisheries, construction and technology industry. Positive development during the session could not keep the index stay above the reference level, before the correction at the end from the key stocks VNM (-4), BID (-0.3), BVH (-5). Foreign investors remained net sellers today on the two floors. Cash flow tends to focus on Midcap stocks, rather than large-cap stocks or small cap stocks.
Excitement has not been back in the session today. In short term, it is a high probability that the market is likely to test the lower support levels in the next session due to market supply pressure and sales momentum of foreign investors. Investors are recommended to maintain strategy to buy the stock at discount because more market correction may happen.