20160913_BSC_Vietnam Daily Review_EN_Incompleted rebound

Highlight
The market continued to correct from the previous trading session and plunged right from the opening to 655 before rebounding at the end of the morning session. At the afternoon session, There was a time that VN-Index rose by nearly 2 points but at the end of the session, selling pressure led VN-Index closed down 0.04 points slightly, the HNX-Index still maintained green color and slightly increased by 0.17 points . Liquidity on the two exchanges continued to decline, a total of 124 million shares were traded for a value of about 2657 billion VND. The stocks had notable developments during the session include VNM, HPG, VCB, HSG, MWG, TTF, VCG, BIC, VIC.
Foreigners continued to be net sellers today with the net value of about 111 billion VND, focused primarily on VNM.
Market breadth was balanced with 210 advancers and 219 decliners

Recommendation
VN-Index intrday efforts to recover after hitting strong support 655 could not be successful after closing below 660 and liquidity continued to decline. Although some industry leading stocks of steel, building materials, plastics, construction and real estate have recovered in the session but the possibility to recover in the next session is uncertain. . At the same time, the technical indicators offer no signal to buy back for the VN-Index. Therefore, investors are recommended to continue to maintain the proportion of stocks at safe levels until the end of the trading week of the reallocation of the ETF.